Tesla Chief Executive Officer Elon Musk unloaded another batch of shares on Monday, in a rough start to the week for the electric car maker.
Musk exercised options to buy 2.1 million shares at $6.24 each, then sold 934,091 at prices between $952 to $1,002, for a total of about $906.5 million, according to filings with the Securities and Exchange Commission.
The latest batch brings his total sales to around $11.76 billion since Nov. 8, a day after his Twitter poll voted for him to sell a 10% stake in Tesla. As of Dec. 9, he owned a 17.16% stake in the company, according to FactSet Research.
Monday saw Tesla
TSLA,
-4.98%
shares drop nearly 5%, in step with technology losses and the bigger market amid worries about monetary policy and the omicron variant of COVID 19. The S&P 500
SPX,
-0.91%
and Dow Jones Industrial Average
DJIA,
-0.89%
posted their biggest one-day drops in nearly 2 weeks.
Musk, who is the world’s wealthiest person, with a net worth of $254 billion, was voted Time’s 2021 “Person of the Year,” on Monday. Tesla shares are up 36% year to date, but have lost 15% in November.
This post was originally published on Market Watch
