Musk Sells Additional 1.2 Trillion Won Worth of Tesla Shares

Elon Musk Tesla CEO [Photo by Yonhap News]

[Asia Economy Reporter Changhwan Lee] Elon Musk, CEO of Tesla, has sold an additional $1.02 billion (approximately 1.21 trillion KRW) worth of Tesla shares, according to U.S. local media reports on the 28th (local time).

According to local media, Musk sold an additional 934,090 Tesla shares through a Securities and Exchange Commission (SEC) filing on the same day.

Since June 6th last month, Musk has sold 15.6 million Tesla shares, securing about $16.4 billion (approximately 19.45 trillion KRW).

The 10% stake he pledged to sell, excluding shares acquired through stock option exercises, is roughly 17 million shares.

On the same day, Musk also exercised stock option rights for 1.6 million shares at $6.24 per share.

Regarding this, The Wall Street Journal (WSJ) reported that Musk has exercised stock options amounting to 22.8 million shares since last month, and despite the consecutive share sales, his Tesla holdings actually increased from 170.5 million shares to 177 million shares.

On June 6th last month, Musk posted a surprise tweet on Twitter asking whether he should sell 10% of his Tesla shares ahead of congressional discussions on a wealth tax, and subsequently sold shares citing the need to pay taxes arising from exercising stock option rights.

The world's richest person, Musk's net worth is approximately $278.9 billion, having increased nearly 80% this year thanks to Tesla's stock price rise.

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