Billionaire and founder of Tesla Inc., Elon Musk has reportedly sold another 934,090 shares in the electric vehicle manufacturer for $1.2 billion.
This is coming barely 7 days after Musk confirmed that he would pay over $11 billion in taxes this year.
He had also predicted that the tax rate would rise next year.
The billionaire has been offloading his Tesla stock after he polled Twitter users about selling 10 percent of his stake in November.
He has now sold more than 15 million Tesla shares.
Recall that last month, Elon Musk sold about $5 billion worth Tesla’s shares and nearly $1 billion again the same month.
Musk’s fortune is heavily reliant on Tesla — and SpaceX valued at 100 billion after a funding round some months ago.
He will be required to pay this tax bill to receive compensation of more than $23 billion in the form of stock options that would otherwise expire in August 2022.
According to Wall Street Journal, Musk’s holdings in Tesla have increased from about 170 million shares to over 177 million shares for exercising his options this quarter.
SPONSORED: For your surprise birthday, wedding or house-warming celebration, event, report, featured story, religious activities, and others reach us @Voice Air for media coverage. Available on request nationwide🏍️🚙 We promise to satisfy you to your taste. 08072633727 (For WhatsApp & calls)
The news you need is here 💯%
In a resounding testament to grassroots dedication yielding national impact, the Executive Secretary of the…
Twenty prospective National Youth Service Corps (NYSC) members abducted while travelling from Ibadan, Oyo State,…
Pupils and students in public primary and secondary schools across Irewolede Local Council Development Area…
The Federal Capital Territory, FCT, Council of the Nigeria Labour Congress, NLC, has declared an…
Police Arrest Suspects For Killing Family Of Six Over Damaged Phone The Oyo State Police…
Bola Ahmed Tinubu has declared a three-day national mourning period following the death of Nigerian…