Billionaire Elon Musk just pocketed another $687.3 million, as he sold more Tesla Inc. stock to the public.
The sales follow disclosures earlier this week that the electric vehicle market leader’s chief executive sold more than 4.5 million Tesla shares for roughly $5 billion. The sales come as the world’s richest man asked his Twitter followers last week if he should sell 10% of this stock, and the answer was yes.
On Thursday, the stock TSLA, -2.55% had rallied as much as 3.5% to an intraday high of $1,104.97 before reversing course to fall as much as 1.2% to a low of $1,054.68 before closing down 0.4% at $1,063.51.
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