Elon Musk's Brother Just Sold $25.6 Million Worth of Tesla Shares


SEC filings revealed Elon Musk's younger brother, Kimbal Musk, sold $25.6 million in Tesla stock on Tuesday.

The SEC filings can be found here. He sold 30,000 shares at an average price of $853 a share, according to the filing. Kimbal sits on Tesla's board and still holds 599,740 shares worth around $480 million.

Tesla shares have rallied massively in the past year, rising 743 percent in 2020 and another 14 percent since the start of 2021.

He sold 30,000 directly owned shares at an average price of $853 a share, the filings showed. The 48-year-old, who is a Tesla board member and restaurateur, still holds 599,740 shares in the company, worth roughly $483 million.

Tesla's shares rose 743% in 2020 and are up about 14% this year.

Kimbal Musk is not the only board member that has sold some shares recently. Tesla board member, Antonio Gracias recently sold 150, 747 shares on Tuesday at an average price of $845. 36, according to another filing. However, Gracias appears to remain bullish on the company. He replaced these positions with call option contracts that expire in June 2022 and 2025, with exercise prices of $52.38 and $68.56.

Tesla executives and insiders currently hold almost 20 percent of the company.

View the Full Story Here.


Economics, Finance and Investing