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Musk's Sell-off of Tesla Shares Could Total $18 Billion by End of Year
Abstract：Elon Musk's sell-off of shares in Tesla could total $18 billion by the end of the year.
Elon Musk's sell-off of shares in Tesla could total $18 billion by the end of the year.
According to CNBC, “the main reason Musk is selling is to pay the taxes on the exercise of options that expire next summer. As part of a 2012 compensation package, the Tesla CEO was given options on 22.8 million shares that expire next August. The options were valued at more than $28 billion when Musk started selling shares, which means his tax bill would have been as high as $15 billion.”
On Monday, Musk sold $906 million in Tesla stock to bring him closer to his goal, whatever that may be. But the report from CNBC adds that part of Musk's plans to sell could be “to help fund SpaceX or other ventures.”
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