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Elon Musk sells Tesla shares worth $10 billion, will he remain the richest person in the world? | Companies News

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New Delhi: Tesla’s Chief Executive Elon Musk has sold another 934,091 shares of the American electric vehicle manufacture worth $1.01 billion, U.S. securities filings showed on Thursday (December 3). 

According to the filings, he has also exercised stock options to buy 2.1 million shares of the EV maker. With the latest transaction, Musk has so far sold Tesla stocks worth more than $10 billion since November 8. 

The entrepreneur has so far exercised options to buy 10.7 million shares and sold 10.1 million shares for $10.9 billion. He still got an option to buy about 10 million more shares at $6.24 each. The exercise option expires in August next year.

The stake sale has followed after the world’s richest person asked Twitter users if he should sell 10% of his stock. A majority of the social media users had agreed that Musk should sell 10% of his stake in Tesla. 

However, despite the sale of stocks worth $10 billion, Musk has remained the world’s richest person, with a total net wealth of $284 billion, according to Bloomberg Billionaire’s Index. 

Following Musk at the second position is former Amazon chief Jeff Bezos, who’s currently worth a little south of $200 billion, according to the index that tracks the wealth movement of richest persons in the world. Also Read: iPhone Users Alert! iPhone 12, iPhone 13 connectivity issues reported: Here’s how to fix it

Since the gap between Musk and Bezos is more than $80 billion, it would be innocuous to say that the former is expected to maintain the lead in the coming days as well, especially with the latter giving up his job as Amazon’s CEO. Also Read: Post Office Customers, Alert: India Post Payments Bank revises cash withdrawal, deposit charges

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