On November 24, according to SEC filings,Tesla's CEO sold another $1.05 billion of tesla stock on Tuesday nightIt was his third sale this month.
Adding in the $6.9 billion and $1.9 billion he sold the previous two times, the total for the month is 9.2 million shares worth more than $9.9 billion,He is halfway through a plan to sell 10% of Tesla stock。
So why is Musk selling like mad? It all started with a tweet.
As part of his compensation plan, Musk was awarded 22.8 million stock options at a strike price of $6.24 per share in 2012.
Those options expire next August, and because the shares are awarded as employee benefits or compensation, Musk must pay a whopping 54.1 percent tax on them, based on current stock prices,Taxes will exceed $15 billion。
On November 6, Musk launched a twitter poll asking his 62.5 million followers whether they should sell 10 percent of Tesla stock, and the results showed that nearly 58 percent of 3.5 million votes were in favor of a sale.
Since Nov. 8, Musk has been selling shares frequently, and after the latest sale,Tesla shares fell more than 4% on Tuesday, snapping several days of gainsStill, the stock is up more than 50% this year.