Musk Sells More Tesla Shares... Stock Drops 5%, 'Cheonsla' Broken
![▲Elon Musk, CEO of Tesla [Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021121322575759502_1639403877.jpg)
[Asia Economy Reporter Kwon Jae-hee] Tesla CEO Elon Musk further reduced his Tesla shares by exercising additional options.
On the 13th (local time), Bloomberg News reported, citing regulatory filings released the previous day, that Musk sold 934,091 shares for $906.5 million.
Currently, Tesla's stock price is $966.41 per share, down 4.98% compared to the previous day. Accordingly, Tesla's market capitalization has decreased to $970.5 billion, breaking below the $1 trillion mark.
Earlier, Musk announced on Twitter that he would sell 10% of his Tesla shares and has already sold nearly 12 million shares.
As Musk reduced his Tesla holdings, Tesla's stock price has fallen 21% since its peak in November.
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According to Bloomberg's Billionaires Index, Musk earned $97.6 billion this year, bringing his total assets to $254 billion (approximately 300.482 trillion KRW).
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