Musk purchased 10.7 million shares on Nov. 8 and has sold 10.1 millions shares for $10.9 million
Elon Musk sold another round Tesla shares in order to satisfy his tax obligations relating to the exercise of options for buying 2.1 million shares.
According to regulatory filings, reported by Reuters, the Tesla chief executive sold 934 091 shares of electric vehicle manufacturer worth $1.01 Billion.
Musk started selling shares last month, after he asked his 60,000,000 Twitter followers if they wanted to sell some Tesla stock.
He wrote, “Much has been made recently of unrealized gains as a way to tax avoidance. So I propose selling 10% my stock.” Musk claims that 58% of respondents said yes.
The initial tweet was costly. Bloomberg reports that he lost $50 billion over the next two days due to shares falling.
Musk has sold 10.7 million shares to $10.9 billion and purchased 10.7 million shares since Nov. 8.
Musk still has the option to purchase approximately 10 million shares for $6.24 per share, which expires next August according to Reuters.
Tesla also announced that it has moved its headquarters from Silicon Valley, California to Texas.
In a regulatory filing, Tesla, Inc. announced Wednesday that it had relocated its corporate headquarters from Austin, Texas to Gigafactory Texas at 13001 Harold Green Road, Austin, Texas 78725.
Musk had stated at the October company annual meeting that Musk was planning to make the move. In press releases, Tesla has used Austin since October.