Thursday, May 19, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Musks Brother Sells 25 6mn Worth Of Tesla Shares

Musk’s brother sells $25.6mn worth of Tesla shares

By IANS
Published: Published Date - 01:45 PM, Fri - 12 February 21
According to a filing with the US Securities And Exchange Commission, the 48-year-old sold 30,000 shares on February 9, reports marketwatch.com.

San Francisco:The younger brother of Elon Musk and a Tesla board member Kimbal Musk sold $25.6 million of shares in the electric carmaker.

According to a filing with the US Securities And Exchange Commission, the 48-year-old sold 30,000 shares on February 9, reports marketwatch.com.

Kimbal Musk’s sales came at just above $850 per share, according to securities filings.

The sales left the younger Musk with nearly 600,000 Tesla shares, a stake worth about $483 million at Wednesday’s closing price of $804.82.

On Wednesday, the stock TSLA, +0.85% dropped 5.3 per cent, with an intraday high of just $844.82. It rose 1 per cent in midday trading Thursday, but, at $812.41, it was still well below where Kimbal Musk sold his shares.

The last time Kimbal Musk sold shares of the electric-vehicle maker, he also exercised options to buy the same amount, just at a much lower price.

Kimbal Musk is the chief executive officer and co-founder of The Kitchen Restaurant Group.

The two brothers co-founded Zip2, which was later sold to Compaq, and Kimbal was an earlier investor in his brother’s company X.com, which was later sold to PayPal.

Earlier, another director Antonio Gracias, sold more than 150,000 shares earlier this month, according to securities filings.

Meanwhile, Tesla has invested $1.5 billion in the Bitcoin cryptocurrency.

The announcement led to a surge in the price of one Bitcoin, which was hovering around $44,000,

Tesla said it will also “begin accepting bitcoin as a form of payment for our products in the near future.”

  • Follow Us :
  • Tags
  • electric carmaker
  • Elon Musk
  • Kimbal Musk
  • San Francisco

Related News

  • Musk will now vote for Republicans as conservatives return on Twitter

  • Have you tried Pizza Hut’s new lighter, crispier San Francisco style pizza?

  • Twitter executive mocks Musk’s medical condition, slams ‘free speech’

  • Elon Musk: Doubt about spam accounts could scuttle Twitter deal

  • Elon Musk, Parag Agrawal spar on Twitter over fake user accounts

  • If you don’t like our content, you can quit: Netflix to workers

Latest News

  • CARS24 asks 600 employees to leave on basis of ‘poor performance’

    3 mins ago
  • Accused in Andhra woman volunteer’s murder commits suicide

    18 mins ago
  • T-Hub to take startups to Silicon Valley through new programme

    27 mins ago
  • SC: GST council’s recommendations not binding on Centre, state governments

    33 mins ago
  • SC sentences Navjot Singh Sidhu to one-year jail in 1988 road rage case

    36 mins ago
  • Two farmers killed as truck mows down motorbike in Adilabad

    44 mins ago
  • Keep the kids busy at this circus-themed play & party zone at Necklace Road

    40 mins ago
  • YouTube now highlights most parts of videos

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam