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Musk sold 587,638 shares held by his trust on Nov. 11 in multiple transactions at prices ranging from $1,056.03 to $1,087.88, according to one of the filings.
A second filing showed that Musk sold an additional 52,099 shares held by his trust at prices ranging from 1,088.01 to $1,104.15.
Musk, the world’s richest person and Tesla (NASDAQ:TSLA)’s top shareholder, tweeted last weekend that he would sell 10% of his stock if users of the social media platform approved the move. Days after Musk disposed $5 billion of the stock, or 3% of his total holdings, the first such move since 2016.
In the first round of share sale, filings showed Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold another 934,000 shares for $1.1 billion to cover tax obligations after exercising options to acquire nearly 2.2 million shares.
Prior to the sales, Musk owned about 23% stake in Tesla, including stock options.
Musk had previously said that he would have to exercise a large number of stock options in the next three months, which would create a big tax bill. Selling some of his stock could free up funds to pay the taxes.
