Tesla's Musk exercises more options, sells shares worth $1.4b

Tesla CEO Elon Musk gestures as he visits the construction site of Tesla's Gigafactory near Berlin, Germany, Aug 13, 2021.
PHOTO: Reuters file

Tesla Inc Chief Executive Elon Musk sold another 934,091 shares of the electric vehicle maker worth $1.05 billion (S$1.4 billion) after exercising options to buy 2.15 million shares, US securities filings showed on Tuesday (Nov 23).

The world's richest person had on Nov 6 tweeted that he would sell 10 per cent of his stock if users of the social media platform approved. A majority of them had agreed with the sale.

Since then, he has sold 9.2 million shares worth $13.5 billion. Last Tuesday, Musk sold 934,091 shares to meet tax withholding obligations related to the exercise of stock options.

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