Tesla CEO Elon Musk has sold another 934,091 shares in the electric vehicle manufacturer. Their total value exceeded $ 1 billion. His fortune, however, diminished amid the strong sell-off of Tesla shares during the last session on Wall Street this week.
The reason for the sale of the shares is the tax liability associated with the purchase of 2.1 million shares, according to the documents.
The Reuters agency said Musk had acquired 10.7 million shares in Tesla as of November 8 and sold 10.1 million shares for $ 10.9 billion. The billionaire still has the right to purchase about 10 million shares at $ 6.24 a share, which will expire in August 2022 – added.
At the beginning of November this year. Elon Musk announced on Twitter that he would sell 10 percent, or approximately 17 million, of Tesla shares if the site’s users support the move. In the end, 57.9 percent of those who took part in the poll created by the billionaire were in favor of selling the shares.
Elon Musk. Fortune
Tesla ended Friday’s trading down 6.42 percent. The electric car manufacturer costs almost $ 1,015 for one share. While at the beginning of November this year. the stock broke the $ 1,200 mark and capitalization surpassed $ 1 trillion for the first time in history.
Friday’s session on Wall Street ended with declines in indices. Investors are still concerned about the new variant of the Omikron coronavirus, the number of new jobs in the non-agricultural sector in the US in November was lower than expected.
According to the Bloomberg Billionaires Index, Musk’s estimated fortune decreased by $ 15.2 billion, but he still remains the clear leader of the list of the richest people in the world. His fortune is $ 269 billion. The Bloomberg Billionaires Index is a ranking of the richest people in the world. It is updated every day after the listing on the New York Stock Exchange is closed.
Second is Jeff Bezos with assets valued at $ 195 billion. Bernard Arnault is on the lowest step of the podium – $ 161 billion.
Main photo source: Al Drago / Bloomberg / Getty Images