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#620 new defect

Musk exercises more options, sells Tesla shares worth US$1.01 billion

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Musk exercises more options, sells Tesla shares worth US$1.01 billion

Tesla Inc Chief Executive Elon Musk has sold another 934,091 shares of the electric vehicle maker worth US$1.01 billion to meet his tax obligations related to the exercise of options to buy 2.1 million shares, regulatory filings showed on Thursday.

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In early November, the world's richest person tweeted that he would sell 10per cent of his stock if users of the social media platform approved. A majority of them had agreed with the sale.

Since Nov. 8, Musk has exercised options to buy 10.7 million shares and sold 10.1 million shares for US$10.9 billion.

Following a flurry of options exercise, Musk still has an option to buy about 10 million more shares at US$6.24 each, which expires in August next year.

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