Elon Musk unloads another $1 billion in Tesla stock1 min read

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Elon Musk sold another $1 billion worth of Tesla Inc. stock Tuesday, as he closes in on his goal of divesting 10% of his stake in the electric-vehicle maker.

According to filings Tuesday with the Securities and Exchange Commission, Musk sold about 934,000 shares, worth about $1.02 billion. He also exercised options on 1.55 million shares.

That brings his total to about 15.8 million shares unloaded since Nov. 7, when he posted a Twitter poll asking if he should sell 10% of his Tesla stake. Altogether, the stock sales have been worth a little over $16 billion. He has also exercised about 22.8 million stock options — all of his vested options that would have expired next year.

At the time of his Twitter poll, Musk’s 10% stake came out to about 17 million shares.  Last week, in-cnfg-7-jrrxf-11640233239?zbq=negvpyr_vayvar" class="icon none" rel="follow">Zhfx gjrrgrq that he was “almost done,” with just “a few tranches left.” Most of the stock sales were scheduled in September, to pay for a roughly in-gnkrf-guvf-lrne-11640021460?zbq=negvpyr_vayvar" class="icon none" rel="follow">$11 ovyyvba gnk ovyy.

Last week’s comments halted a monthlong slump in Tesla’s stock price since his selloff began, as the company regained a market cap above $1 trillion.

Tesla stock
TSLA,
-0.50%

is down 5% in the past month, but has gained 21% over the past five days. Shares are up 54% year to date, compared to the S&P 500’s
SPX,
-0.10%

27% gain this year.

Updated with a new total number of stock options exercised.

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