Tesla chairman sold 31,250 shares worth more than $ 22 million

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Surprisingly, Kimball Musk, Elon Musk’s brother and Tesla board member, was the first to do so. In February, he sold $ 25.56 million in shares, but he still had 599,740.

In March, Zachary Kirkhorn sold 1,250 Tesla shares for $ 819,762. He’s the company’s CFO (Chief Financial Officer), or – as Musk prefers to call him – Master of Coin.

Panasonic followed suit. The Japanese battery maker’s ties to Tesla go back a long way and it still manages Giga Nevada with the US automaker, but that hasn’t stopped it from selling all of its Tesla shares in the past fiscal year.

It bought 1.4 million shares at a unit price of $ 21.15 when Tesla went public in June 2010. Panasonic started selling them in 2020 and got rid of the remaining stake in March. This corresponded to 81 billion yen, or $ 730 million. We only learned about the case on June 25, 2021. In total, Panasonic made $ 3.9 billion in profit.

On June 3, Tesla informed that Jérôme Guillen was no longer with the company. On June 10, Tesla’s most important executive aside from Elon Musk began selling all of the shares he owned in the company, pocketing around $ 274 million.

On July 8, Vaibhav Taneja sold 4,459 Tesla shares. The company’s Chief Accounting Officer (CAO) raised $ 2,950,029.81 through the agreement. Denholm was only the last ruler to do the same.

Other than Guillen, all of the other people and companies mentioned here are still involved with Tesla. Of course, you may be facing a financial emergency and need to raise $ 800,000, $ 2 million, $ 22 million or $ 25 million… However, it may have affected other investors.

In March, billionaire Ron Baron got rid of 1.8 million Tesla shares, allegedly because they would represent a significant percentage of certain portfolios. In May, Scottish fund Baillie Gifford & Co. sold 11.1 million shares, or 1.2% of Tesla’s total shares. That same month, Michael Burry revealed he had a short position of $ 534 million against the company. You know Burry from the movie “The Big Short”.

In this landscape, any movement can attract the attention of investors. When top executives in the company sell their shares, it can have an impact, regardless of their personal reasons for doing so.

Source: Bloomberg


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