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Elon Musk Sells More Tesla Stock as Valuation Dips Below $1 Trillion

  • CEO has offloaded $12.7 billion worth of shares in five weeks
  • He’s roughly 70% done with the disposals pledged on Twitter
Bloomberg business news
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Elon Musk made more headway toward his pledge to sell 10% of his Tesla Inc. stake, and it may have cost the carmaker its $1 trillion valuation.

The world’s richest person offloaded another 934,091 shares on Monday for about $906.5 million to cover taxes on the exercise of 2.1 million more options, according to regulatory filings. He has now sold a total of $12.7 billion worth of stock over five weeks.