Dec 3, 2021 - Economy & Business
Elon Musk's mega-billion bounty
Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.
- Musk ranks No. 1 on the global Bloomberg Billionaires Index, with a net worth of $284 billion.
What's happening: When Musk polled Twitter in early November about whether to sell 10% of his Tesla stock ("Sell!" Twitter replied), his stake was worth over $200 billion, or 17% of the company, the Wall Street Journal reported.
- Now his "share-selling spree" is stretching into a second month, per the Journal.
- The sales are part of a plan to exercise some of his vested stock options that will expire next year, and to sell some holdings to cover tax obligations, Axios' Kia Kokalitcheva notes.
👢 P.S. With an SEC filing Wednesday, Tesla officially moved its HQ from Palo Alto to its Gigafactory Texas outside Austin.