A week ago, Tesla founder Elon Musk sold more Tesla stock than he needed to pay his current tax obligations. At the time, it was $8.8 billion, but he continues to sell Tesla stock. This week he sold another 934,091 shares for $1.05 billion. Since the beginning of this month, he has sold about $10 billion worth of the company's stock. He originally said he would sell 10 percent of the company's stock, which at the time was valued at $21 billion. That is, he has now sold about half of the planned number of securities.
Tesla's stock plummeted after a poll in which Elon Musk asked readers whether he should sell the company's stock. At that time, the rate fell from $1,200 to $1,000, but then there was an adjustment, and now the company's shares are worth about $1,116. Eric Gordon, a professor of business and law at the University of Michigan, has previously suggested that Musk expects the stock price to fall: "If you think the stock is going to go up or stay at current levels, you're not going to sell additional shares."
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