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Elon Musk Manages To Increase His Tesla Holding Despite Selling 10% Of Shares

Elon Musk has sold roughly 10.1 million shares to date, but he still has 7 million TSLA shares left to sell in order to meet his goal of offloading 10% of his stake in the company. According to a CNN Business analysis, however, Elon Musk’s public filings reveal that the CEO is not withdrawing from his Tesla holdings at all. To date, Musk owns about 564,000 more shares than he did when he first began selling some of his personal TSLA stock.

As a result, when Musk was selling large quantities of shares, he was simultaneously exercising options to purchase additional TSLA stock at a substantial discount. Musk has been able to buy TSLA stock at a price of $6.25 per share, which is under 1 percent of the company’s current market value.

Elon Musk has exercised options to acquire 10.7 million shares of Tesla Motors, Inc., in the wake of a poll he conducted on Twitter last month asking users if he should sell some of his TSLA holdings. If Elon didn’t exercise them, the options would have expired on August 2022. Elon would almost certainly exercise additional options that expire next year, worth around 12.2 million TSLA shares.

Elon Musk, the CEO of Tesla and SpaceX, has a $5 billion tax debt on the new TSLA stock he has acquired since launching his Twitter poll last month. He would most likely be required to pay some sort of state taxes as well. The CEO’s reports show that part of the reason for Musk’s selloff was to alleviate his tax burden.