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Musk’s Tesla has made half of its commitment with a share sale of nearly $11 billion

FILE PHOTO: Tesla Inc CEO Elon Musk walks beside a screen showing a picture of a Tesla Model 3 vehicle during the opening ceremony of the China-made Model Y program in Shanghai
FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing a picture of a Tesla Model 3 vehicle during the opening ceremony of the Model Y program made by Tesla China in Shanghai, China May 7 1 2020. REUTERS / Aly Song / File Photo

December 3, 2021

By Hyunjoo Jin and Subrat Patnaik

(Reuters) – Tesla Inc CEO Elon Musk has sold nearly $11 billion worth of stock since the world’s richest man polled Twitter users about selling off 10% of his shares. its share in the electric car maker.

He has sold a total of 10.1 million shares, more than half of the shares he pledged to sell, and has purchased 10.7 million shares by exercising the option, as of Nov. .

Here is a sequence of transactions he made:

STOCKS DATE WITH REQUEST STOCKS FOR SALE

MAY. 8 2.2 million won

MAY. 8 934,091 $1.10 billion

MAY. 9 3.1 million 3.35 billion USD

MAY. 10 500,000 dollars 527.3 million

MAY. 11 639,737 $687.3 million

MAY. 12 1.2 million $1.24 billion

MAY. 15 2.1 million won

MAY. 15 934,091 $ 930.7 million

MAY. 16 2.1 million won

MAY. 16 934,091 $ 973.4 million

MAY. 23 2.15 million 934,091 $1.05

bln

DECEMBER. 2 2.1 million 934,091 $1.01

bln

Total 10.7 $ 10.87 billion

million 10.1 million

HOW IS MUSK SELLED?

Musk said on November 6 he would sell his 10% stake if Twitter users agreed. He owns about 244 million shares of stock through trusts and stock options, bringing his ownership in Tesla to about 23% as of June 30. It includes 170 million shares in his trust. holding.

Vague tweet. Musk did not specify whether he intends to sell off 10% of the shares he indirectly owns through the trust or whether his stock options are also part of the deal.

After a series of options, Musk still has the option to buy about 10 million more shares at $6.24 per share, which expires next August.

(This story adjusts for the total proceeds for November 23 and December 2 and the total proceeds in the table. Also adjusts the figures for the shares sold and purchased in paragraph 2).

(Reporting by Subrat Patnaik and Akash Sriram in Bengaluru and Hyunjoo Jin in San Franscisco; Editing by Nick Zieminski, Arun Koyyur and Sriraj Kalluvila)

https://www.oann.com/factbox-teslas-musk-over-halfway-through-his-pledge-with-nearly-11-billion-stake-sale/?utm_source=rss&utm_medium=rss&utm_campaign=factbox-teslas-musk-over-halfway-through-his-pledge-with-nearly-11-billion-stake-sale Musk’s Tesla has made half of its commitment with a share sale of nearly $11 billion

Bobby Allyn

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