After promise, Musk sells $1.1B in Tesla shares to pay taxes

After promise, Musk sells $1.1B in Tesla shares to pay taxes

2 years ago
Anonymous $np3LcwuhSi

https://apnews.com/ed57f9319cb5aaa795d15fc74a0b1add

DETROIT (AP) — After making a promise on Twitter, Tesla CEO Elon Musk has sold about 900,000 shares of the electric car maker's stock, netting over $1.1 billion that will go toward paying tax obligations for stock options.

The sales, disclosed in two regulatory filings late Wednesday, will cover tax obligations for stock options granted to Musk in September. He exercised options to buy just over 2.1 million shares for $6.24 each. The company's stock closed Wednesday at $1,067.95 per share.