Tesla Inc (TSLA.O) Chief Executive Elon Musk has sold nearly $9 billion worth of shares since the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.
He sold a combined 8.2 million shares, which is nearly half of the 10% stake that he had pledged to sell.
Musk on Nov. 6 said he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.
Musk’s tweet was vague. He did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.
Musk had an option to buy 22.86 million shares at $6.24 each, which expire on Aug. 13, 2022, according to a Tesla filing.
After buying about 6.4 million stocks, he has options for about 16.5 million more shares he needs to exercise by next August.