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

Musk Named Time’s Person of the Year After Tesla’s Stellar Run

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By Cecile Vannucci and Craig Trudell

December 14, 2021 at 1:31 AM UTC

Updated on

December 14, 2021 at 2:45 PM UTC

This article is for subscribers only.

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.