Tesla IPO Probably Generated $24 Million for CEO Musk
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Elon Musk, chief executive officer of Tesla Motors Inc., made at least $24 million from the electric-car maker’s initial public offering, restoring some of the wealth he’s staked on the company and other startups.
Tesla set a price of $17 a share and Musk sold 1.42 million shares, including an over-allotment to underwriters, according to filings and data compiled by Bloomberg. Tesla rose 41 percent yesterday, the second-biggest rally for a U.S. IPO this year.