Elon Musk exercises options, sells another $ 930 million in Tesla stock

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Elon Musk continues to dump Tesla Inc. stock, exercising his options and selling an additional $ 930 million worth of shares on Monday after he dumped $ 6.9 billion in shares last week.

According to filings filed Monday with the Securities and Exchanges Commission, Musk sold more than 934,000 shares on Monday at prices ranging from $ 6.25 to $ 1,028 a share.

In total, Musk has sold about 7.23 million shares for about $ 7.83 billion since November 8, the day after. Musk’s Twitter poll decided he should sell 10% of his stake in Tesla. Some of the stock sales had been set in motion well before the poll was released.

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Musk’s selloff last week led to the worst week for Tesla shares in more than a year. Tesla shares
TSLA,
-1.94%

it fell nearly 2% on Monday and have dropped more than 17% since November 8.

If Musk really intends to sell 10% of his stock, that’s far from done. As of last week, his stake was around 17 million shares, so he would have had around 9.77 million shares to spend.

Musk, the richest man in the world, has millions of stock options he must exercise by August 2022, and Musk said in September that he intended to sell a large chunk of the stock in the fourth quarter. CNBC reported last week that Musk faced a roughly $ 15 billion tax bill on those options.

Despite the recent slump, Tesla shares are still up 44% year to date and have gained 148% over the past 12 months.

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