Tesla Inc (NASDAQ:TSLA) boss Elon Musk has sold another US$930mln of shares in the company on Monday after exercising more stock options.
The billionaire sold 934,091 shares to meet tax withholding obligations as he exercised the option to buy another 2.1mln stock options.
Musk’s options enabled him to buy the 2.1mln shares at just US$6.24 apiece, meaning he has to pay income tax on the difference between the stock purchase and the share sale.
The shares closed overnight at US$1,013.39, down 17% from the Friday before he posted a Twitter poll asking if he should sell a 10% stake but still over 16,000% higher than the option price.
Similarly, last week the South African-born entrepreneur sold shares sold 934,000 shares for US$1.1bn after exercising another 2.1mln options.
One of the richest men in the world, Musk has also been involved in a number of online spats in recent weeks.
Former Democratic candidate Bernie Sanders tweeted that “the extremely wealth pay their share”, which Musk seemingly took offence to, tweeting “I keep forgetting that you’re still alive,” in response.
His reasoning behind selling Tesla stock have also been questioned.
Michael Burry, who the film ‘The Big Short’ is based on has accused Musk of simply selling Tesla to capitalise on its value whilst high before the market crashes.