Top Line

The world’s richest man, Elon Musk, on Tuesday offloaded $1.05 billion of Tesla stock, according to new regulatory filings, halfway to fulfill his Twitter poll-backed promise to sell his 10% stake in the electric vehicle company passing through.

important facts

- Advertisement -

According to regulatory filings, Musk sold about 934,000 shares for just over $1.05 billion.

The filing shows the sale will cover taxes after Musk exercises his options to buy 2.15 million shares.

The billionaire has sold nearly $10 billion worth of Tesla stock—about 9.2 million shares—this month asking Twitter users to vote on whether he should sell his 10% stake in the electric carmaker.

To reach the 10% limit, Businesshala Estimated Musk would need to sell a total of about 17 million shares, his recent sale pushing him past the halfway mark.

- Advertisement -