Elon Musk is about to do something weird for a billionaire, pay ~$600 million in taxes
Earlier this week, Tesla confirmed having closed its recent secondary offering with $1.7 billion in net proceeds to finance its Model 3 production program, but part of the offering was also a significant set of transactions in order for Elon Musk to exercise 5,503,972 stock options and then sell 2,782,670 shares to pay taxes.
In a SEC filing issued last night, Tesla confirmed that Musk sold the shares at $213.22 for a total of just over $593 million. After the transaction, Musk’s stake in Tesla stands at 31,100,644 shares worth just over $7 billion. Expand