Elon Musk’s sale of $906 million in Tesla stock Monday brings him one step closer to his ultimate sales goal. The big question: what is the goal?
Based on his November Twitter poll, Musk plans to sell 10% of his total Tesla shares. At the time, he owned just over 170 million shares, so theoretically he plans to sell about 17 million shares to fulfill his Twitter pledge.
As of Tuesday morning, he has sold a total of 11.9 million shares, according to InsiderScore/Verity. The sales have been spread over a dizzying 680 sales for a total of about $12.7 billion. Based on his 10% target, he would likely sell another 5 million shares — which at Monday’s closing price of around $966 would be more than $4.8 billion.
It could end up being more, however. Musk is making two kinds of stock sales — one to pay taxes on his compensation package and the other for straight cash-outs, or “to-pocket” sales.