Musk's Brother Sold Tesla Shares Worth 28.3 Billion Won

▲Kimball Musk, brother of Tesla CEO Elon Musk

[Asia Economy Reporter Kwon Jaehee] Kimball Musk, the brother of Elon Musk, CEO of the American electric vehicle company Tesla, has sold Tesla shares worth 28.3 billion KRW.

According to U.S. economic media Business Insider on the 11th, Kimball, a Tesla director and owner of the restaurant business Kitchen Restaurant, sold 30,000 Tesla shares worth 25.6 million USD (approximately 28.3392 billion KRW).

According to a U.S. Securities and Exchange Commission (SEC) report, Kimball sold Tesla shares at an average price of 852.12 USD per share on the 9th. The volume sold corresponds to 5% of his holdings.

Kimball currently holds 599,740 Tesla shares worth 483 million USD (approximately 534.681 billion KRW).

CNBC reported, "Tesla's stock price surged dramatically after being included in the S&P 500, a representative U.S. stock index, and then Kimball sold shares."

Tesla's stock price rose 743% last year and has increased 14% this year. As of the 10th, Tesla's closing price was 804.82 USD.

Meanwhile, Tesla director Antonio Gracias sold 150,747 shares at an average price of 845.36 USD per share and then purchased 150,000 call option contracts (the right to buy at a predetermined price expecting the stock price to rise).

The call option expiration and exercise prices are June next year at 52.38 USD and June 2025 at 68.56 USD, respectively.

This content was produced with the assistance of AI translation services.