DETROIT (AP) — Tesla CEO Elon Musk has sold another chunk of his stock after pledging on Twitter to liquidate 10% of his holdings in the electric car maker.
DETROIT — Tesla CEO Elon Musk has sold another chunk of his stock after pledging on Twitter to liquidate 10% of his holdings in the electric car maker. Musk sold about 640,000 shares for roughly $687.3 million, according to two filings Friday with the U.S. Securities and Exchange Commission. So far this week, the eccentric CEO has sold about 5.1 million shares worth about $5.69 billion. About $1.1 billion of the proceeds that from the sales that were made Thursday will go toward paying tax obligations for stock options granted to Musk in September. The options are part of a compensation package Musk and Tesla agreed to in 2018 that provided the CEO with options if Tesla hit certain financial targets.
