Musk got rid of $ 1 billion worth of stock, which is what he bought with the money

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Elon Musk (Facebook photo / Elon Musk, unsplash edit ice)

Elon Musk, the richest man in the world, downgraded Tesla shares to $ 1.05 billion, according to new regulatory documents, and passed the halfway point to meet his promise to voters in a Twitter poll to sell 10% of his shares in the electric car company.

Musk sold about 934,000 shares for just over $ 1.05 billion, according to regulatory documents. The sale will cover taxes after Musk exercised options to purchase 2.15 million shares, the documents show.

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The billionaire sold nearly $ 10 billion worth of Tesla shares – about 9.2 million shares in total this month since he asked Twitter users to vote on whether to sell 10% of his shares in the electric car maker. To reach a 10% threshold, Forbes estimated that Musk would have to sell a total of about 17 million shares, with his latest sale pushing him beyond halfway.

$ 1.1 trillion. This is Tesla’s current market value as of this morning (Thursday), even after rising another 0.63% in the last day of trading on the stock exchange, with the value of each of its shares standing at $ 1,116 in total.

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