Tesla CEO Elon Musk. File photo: REUTERS/ALY SONG
Musk disclosed the additional share sale, which was worth about $687m, in regulatory filings after offloading about $5bn in stock earlier in the week. The stock sales, which marked the first time that Musk cashed out on a stake of that size since the electric carmaker was founded in 2003, were massive by capital market standards, bigger than the initial public offerings of most companies.
So far this week, Tesla has lost $157bn in stock market value, more than the combined market capitalisations of Ford and General Motors.
Source: News Formal (newsformal.com)
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