Kimbal Musk The brother of Tesla co-founder Elon Musk made more than $108 million by exercising his company’s stock options last week, when Elon was considering selling most of his shares.
Submit to Securities and Exchange Commission According to MarketWatch, Kimbal used his options to purchase 25,000 Tesla shares at a price of $74.17 on November 5, and then immediately sold them in batches at a price of $1,223 to $1,236 per share, with a profit of approximately $108.8 million. .
As of Monday, the young Musk, who serves on Tesla’s board of directors, still holds more than 511,000 shares of Tesla, valued at approximately $594 million.
After Elon, Tesla’s stock went through a busy weekend Ask his followers on Twitter If he sells his 10% stake in an electric car company.
Elon explained his problem by citing a proposal Democratic Party In Congress, the unrealized gains on assets held by the super-rich are taxed. He added that most of his wealth is obtained by holding company stocks, so if the bill is passed, the impact of the tax bill may hit him even harder.
Elon has been criticizing the Democratic Party for tax reforms targeting the wealthiest people in the United States
“In the end, they ran out of other people’s money, and then they came to you,” Tesla co-founder wrote Respond to the tax proposal at the end of October.
Elon’s 63 million followers on Twitter supported him to sell 10% of Tesla’s shares with 57.9% of the votes, but he has not yet fulfilled his promise.
By Monday, Tesla’s stock price Plummet But they have slowly risen upwards 1,174 USD Per share at the time of writing.
