Musk said in September he would probably exercise a big chunk of options toward the end of the year and put a trading plan in place. The offloading of stock began after he asked his Twitter followers on Nov. 6 — a Saturday — whether he should cut his Tesla ownership. The overwhelming answer was “yes,” and he started his selling spree the following Monday.
He’s since got rid of $12.7 billion worth of stock — including exactly 934,091 shares in each of the last six sales — and exercised almost 15 million options.
Since then, Tesla’s stock has lost 21% from a peak on Nov. 4, trimming its gain this year to 37%.
Musk, who was named Time magazine’s “Person of the Year,” has added almost $98 billion to his fortune in 2021 and is now worth $253.6 billion, according to the Bloomberg Billionaires Index.