(Reuters) Tesla CEO Elon Musk has sold about $687 million worth of the company’s stock, days after selling another $5 billion.
The share sale was made on November 11 through a series of transactions. About 639,737 shares were disposed of at a price range of $1,056 to $1,104.15.
Continued share sale by Musk happens following a Twitter poll in which fans urged him to sell 10% of his holdings in the electric car maker.
Musk had initially hinted at exercising a large number of stock options over a period of three months which could create a huge tax bill. He expects to use the proceeds of the share sale to pay the taxes.
Musk has now sold 5.2 million shares in Tesla. To get to the 10% threshold, he would have to sell about 17 million shares.
TSLA: NASDAQ is down -1.18% on premarket.
