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Elon Musk offloads $1.1B in Tesla stock
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Tesla CEO Elon Musk has offloaded more than one billion dollars worth of shares according to recent financial filings.
Filings submitted on Nov. 11 to the Securities and Exchange Commission confirm the sale of more than 934,000 Tesla shares worth around $1.1 billion.
Musk sold the shares at an average price of around $1,170, locking in almost 180% in gains in prices over the past year. It is just the third time Musk has sold company stock since Tesla went public on the Nasdaq in 2010, and it is his largest transaction.
The filings show that Musk planned to sell the stock as part of his tax obligations back in September. He polled his 63 million followers at the weekend, asking whether he should sell 10% of his Tesla holdings. Of the 3.5
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