Elon Musk made another disclosure about disposing of more Tesla Inc. stock and paired it with a joke tweet about quitting your job.
According to regulatory filings, Tesla’s chief executive officer sold $963 million more shares to pay taxes for the exercise of 2.2 million additional options. Over the past five weeks, he has now sold approximately $11.8 billion of stock.
After the filings were posted, the world’s richest man laughed that he had found a new calling.
Musk wrote that he was thinking of quitting his job and becoming an influencer full time. He asked his nearly 66 million followers their opinions. This was followed up by many laughing emoticons responses.
Musk’s Twitter high-jinks aren’t always appreciated by regulators and shareholders. After he joked on April Fools Day 2018 about the company’s bankruptcy, Tesla shares plummeted. The U.S. Securities and Exchange Commission sued him later that year over his tweets about Tesla being taken private at a significant price in marijuana culture. He thought this would amuse her then-girlfriend.
Shortly after regular trading began Friday, Tesla dropped 2.1% to $982.53. Musk has offloaded shares, causing the stock to drop 20% from its peak on Nov. 4. He tweeted last month he would
Elon Musk is now about two-thirds through his stock sale.
Musk is about halfway through reducing 10% of his direct shares. Musk will need to dispose of approximately 6 million more shares if the threshold he referred to includes exercisable option.
According to the Bloomberg Billionaires Index, the CEO of Tesla and Space Exploration Technologies Corp., he is the richest person in the world, having a fortune worth $266 billion that has increased by $110 billion each year.
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