Financial Insights

Musk exercises Tesla options, sells $1.1 billion in shares after the Twitter poll

Tesla CEO Elon Musk has sold about $ 1.1 billion worth of shares to cover his tax obligations when exercising options, Billionaire reported in a filing Wednesday.

Mask exercised the option to buy nearly 2.2 million Tesla shares and then sold about 934,000 shares, or about 0.5% of its Tesla shares. The move gives Mask cash to pay taxes related to the exercise of options, as his net worth, set by Forbes at $ 281.6 billion, is tied to a stake in Tesla.

It also save him the capital gains tax bill that he would have had to pay had he sold the shares without combining their divestment with the exercising of the options.

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