{"id":366677,"date":"2021-11-12T21:58:07","date_gmt":"2021-11-12T18:58:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-sells-another-700-million-in-tesla-stock\/"},"modified":"2021-11-12T21:58:07","modified_gmt":"2021-11-12T18:58:07","slug":"elon-musk-sells-another-700-million-in-tesla-stock","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-sells-another-700-million-in-tesla-stock\/","title":{"rendered":"#Elon Musk sells another $700 million in Tesla stock"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4071a4b64c4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4071a4b64c4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-sells-another-700-million-in-tesla-stock\/#How_much_are_Tesla_shares_worth\" >How much are Tesla shares worth?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-sells-another-700-million-in-tesla-stock\/#What_will_Elon_Musk_do_with_money_made_from_his_stock_sale\" >What will Elon Musk do with money made from his stock sale?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Elon Musk sells another $700 million in Tesla stock<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Tesla top boss\u00a0Elon\u00a0Musk\u00a0sold another block of company shares worth about $700 million, filings showed on Friday, as the billionaire takes advantage of a meteoric rally that drove the electric carmaker\u2019s value to over $1 trillion.<\/p>\n<p>The second round of hefty stock sales this week comes just days after the world\u2019s richest person and Tesla\u2019s top shareholder tweeted that he would sell 10% of his shares if users of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> platform <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved the move.<\/p>\n<p>Musk\u00a0disclosed the additional share sale, which was worth about $687 million, in regulatory filings after offloading about $5 billion in stock earlier in the week.<\/p>\n<p>Musk\u2019s trust sold 587,638 and 52,099 shares on Nov. 11 in multiple transactions, according to two separate filings on Friday.<\/p>\n<p>In the first round of the sale, filings showed that\u00a0Musk\u2019s trust had offloaded nearly 3.6 million shares worth about $4 billion.<\/p>\n<p>The stock sales, which marked the first time that\u00a0Musk\u00a0cashed out on a stake of that size since the electric carmaker was founded in 2003, were massive by capital market standards, bigger than the initial public offerings of most companies.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock3.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Tesla logo is seen on the screen of a smartphone next to a screen illustration of the stock market in this photo illustration \" class=\"wp-image-20125649\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock3.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock3.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock3.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Tesla has lost $157 billion in stock market value this week, more than the combined market capitalizations of Ford and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Motors, but still remains the most valuable automaker in the US.<\/figcaption><figcaption><span class=\"credit\">NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n<p>By getting Twitter users to green light the move, he has also skirted speculation of cashing out because Tesla\u2019s valuation has become frothy after its shares hit record highs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_much_are_Tesla_shares_worth\"><\/span>How much are Tesla shares worth?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tesla shares were down 1.5% at $1,050 in early trading and were headed for their first weekly decline in 12 weeks.<\/p>\n<p>\u201cTesla investors are exhausted after the roller coaster ride they\u2019ve been on. I don\u2019t expect a big impact on the share price after what we\u2019ve already been through,\u201d said Fiona Cincotta, senior markets analyst at City Index in London.<\/p>\n<p>So far this week, Tesla has lost $157 billion in stock market value, more than the combined market capitalizations of Ford Motor Co and General Motors Co.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock2-1.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Elon Musk speaking while standing onstage in front of a Tesla vehicle\" class=\"wp-image-20125742\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock2-1.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock2-1.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock2-1.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Musk sold another 934,000 shares for $1.1 billion earlier this week.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Despite the week\u2019s losses, Tesla is still the most valuable U.S. automaker. Its stock had soared in the past 11 weeks before the rout, underscoring demand for shares of electric vehicles (EV) makers.<\/p>\n<p>After the blockbuster market debut of Rivian Automotive Inc on Thursday, the two most valuable U.S. automakers are EV companies.<\/p>\n<p>In a veiled jab at the Irvine, California-based rival,\u00a0Musk\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3wGQ7fz\">tweeted<\/a> on Thursday: \u201cThere have been hundreds of automotive startups, both electric &amp; combustion, but Tesla is (the) only American carmaker to reach high volume production &amp; positive cash flow in past 100 years.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_will_Elon_Musk_do_with_money_made_from_his_stock_sale\"><\/span>What will Elon Musk do with money made from his stock sale? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Musk\u00a0also sold another 934,000 shares for $1.1 billion in the first round of sale to cover tax obligations after exercising options to acquire nearly 2.2 million shares.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla4.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Rivian electric pickup truck on display at an auto show\" class=\"wp-image-20125785\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla4.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla4.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla4.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The two most valuable automakers in the US are now both electric-vehicle makers, Tesla and newcomer Rivian, which had a blockbuster market debut. <\/figcaption><figcaption><span class=\"credit\">LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Nearly 800,000 options, or about 12% of Tesla\u2019s open contract, are set to expire at the close of the session on Friday, potentially adding to short-term volatility as traders and options dealers make adjustments.<\/p>\n<p>Musk\u00a0had previously said 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.<\/p>\n<p>Prior to the sale,\u00a0Musk\u00a0owned a stake of about 23% in Tesla, including stock options.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/12\/elon-musk-sells-another-700-million-in-tesla-stock\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Elon Musk sells another $700 million in Tesla stock&#8221; Tesla top boss\u00a0Elon\u00a0Musk\u00a0sold another block of company shares worth about $700 million, filings showed on Friday, as the billionaire takes advantage of a meteoric rally that drove the electric carmaker\u2019s value to over $1 trillion. The second round of hefty stock sales this week comes just&#8230;<\/p>\n","protected":false},"author":1,"featured_media":366678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/elon-musk-sells-more-tesla-stock.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[118851,70462,39394,70359,36402],"class_list":["post-366677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-12-21","tag-electric-cars","tag-elon-musk","tag-stocks","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=366677"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/366678"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=366677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=366677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=366677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}