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Tesla CEO Elon Musk has sold nearly 900,000 shares of the electric carmaker’s stock, valued at more than $1.1 billion, after making a promise on Twitter that it would go toward paying tax obligations for stock options.

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The sale, disclosed in two regulatory filings late Wednesday, will cover tax obligations for stock options granted to Musk in September. He exercised the options to buy more than 2.1 million shares for $6.24 each. The company’s stock closed at $1,067.95 per share on Wednesday.

According to forms filed with the US Securities and Exchange Commission, the transactions were “automatically effective” as part of a trading plan adopted on September 14 to sell options expiring next year. About two months ago he pitched the sale idea on Twitter.

related: Elon Musk Twitter Poll: 58% Vote ‘Yes’ on Billionaire’s Proposal to Sell 10% of Tesla Stock

After the transaction, Musk still owns about 170 million Tesla shares.

last weekend, moscow He said he would sell his 10% stake in the company, based on the results of a survey he conducted on Twitter, worth more than $20 billion. The sales tweets kicked off the stock’s selloff on Monday and Tuesday, but improved somewhat on Wednesday.

Wedbush analyst Daniel Ives said it appears Musk will begin selling shares by the end of the year.

“The question for investors will be whether it sells its full 10% ownership stake in the coming months or will it go piecemeal during 2022?” Ives wrote in a note to investors.

Tesla Inc. shares rose 2.6% to $1,096 in extended trading on Wednesday. The company is based in Palo Alto, California, although Musk has announced that it will move your headquarters to texas,