By Hyunjoo Jin and Subrat Patnaik
(Reuters) – Tesla Inc Chief Executive Elon Musk has sold nearly $9 billion worth of shares since the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.
He sold a combined 8.2 million shares, which is nearly half of the 10% stake that he had pledged to sell.
Here is a string of transactions he has done since Nov. 8.
GROSS PROCEEDS
DATE SHARES ACQUIRED SHARES SOLD
2.2
NOV. 8 mln
$1.10
NOV. 8 934,091 bln
$3.35
NOV. 9 3.1 mln bln
NOV. 10 500,000 $527.3 mln
NOV. 11 639,737 $687.3 mln
$1.24
NOV. 12 1.2 mln bln
2.1
NOV. 15 mln
NOV. 15 934,091 $930.7 mln
2.1
NOV. 16 mln
NOV. 16 934,091 $973.4 mln
6.4 $8.81
Total mln 8.2 mln bln
HOW DID MUSK SELL?
Musk on Nov. 6 said he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.
Musk’s tweet was vague. He did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.
Musk had an option to buy 22.86 million shares at $6.24 each, which expire on Aug. 13, 2022, according to a Tesla filing.
After buying about 6.4 million stocks, he has options for about 16.5 million more shares he needs to exercise by next August.
(Reporting by Subrat Patnaik in Bengaluru and Hyunjoo Jin in San Franscisco; Editing by Nick Zieminski and Arun Koyyur)
