Tesla’s Chief Executive Officer, Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $906.5 million, U.S. securities filings showed on Monday.
He also exercised options to buy 2.13 million shares at the strike price of $6.24 per share granted to him via a 2012 compensation package. While the shares of Tesla closed down 5% at $966.41 on Monday.
Elon Musk is also the wealthiest person in the world and who was just named Time magazine’s 2021 Person of the Year, still has millions of stock options that he needs to exercise by August 2022. He revealed at the 2021 Code Conference on Sept. 28 that he would likely sell a large chunk of stock in the fourth quarter.