By Hyunjoo Jin and Subrat Patnaik
(Reuters) – Tesla Inc Chief Executive Elon Musk has sold nearly $11 billion worth of shares since the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.
He has sold a combined 10.11 million shares, which is over half of the stake that he had pledged to sell, and has acquired 10.65 million shares by exercising options, since Nov. 8.
Here is a string of transactions he has done:
DATE SHARES ACQUIRED SHARES SOLD GROSS PROCEEDS
NOV. 8 2.2 mln
NOV. 8 934,091 $1.10 bln
NOV. 9 3.1 mln $3.35 bln
NOV. 10 500,000 $527.3 mln
NOV. 11 639,737 $687.3 mln
NOV. 12 1.2 mln $1.24 bln
NOV. 15 2.1 mln
NOV. 15 934,091 $930.7 mln
NOV. 16 2.1 mln
NOV. 16 934,091 $973.4 mln
NOV. 23 2.15 mln 934,091 $996.6 mln
DEC. 2 2.1 mln 934,091 $983.4 mln
Total 10.65 mln 10.11 mln $10.79 bln
HOW DID MUSK SELL?
Musk said on Nov. 6 he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.
The tweet was vague. Musk did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.
Following a flurry of options exercise, Musk still has an option to buy about 10 million more shares at $6.24 each, which expires in August next year.
(Reporting by Subrat Patnaik and Akash Sriram in Bengaluru and Hyunjoo Jin in San Franscisco; Editing by Nick Zieminski, Arun Koyyur and Sriraj Kalluvila)
