Musk’s brother sold 30,000 Tesla shares worth 28.3 billion won
Holds 590,000 shares worth 530 billion won even after stock disposal
(Los Angeles = Yonhap News) Correspondent Jeong Yoon-seop = Elon Musk’s younger brother Kimbal Musk, who is the CEO of Tesla, a US electric vehicle company, sold 28.3 billion won worth of Tesla stock.
On the 11th (local time), the US economic media business Insider reported that Kimbal, a director of Tesla and the owner of a kitchen restaurant, sold 25.6 million dollars (28339.2 million won) of 30,000 Tesla shares.
According to a report by the US Securities and Exchange Commission (SEC), Kimbal sold Tesla shares on the 9th for an average of $852.12 per share. The amount sold is equivalent to 5% of the stake.
Kimbal currently owns 590,740 shares of Tesla stock worth $483 million (534.6 billion won).
CNBC said, “Tesla stock price rose sharply after being incorporated into the S&P 500, a representative stock index in the United States, and Kimbal’s stock was then sold.”
Tesla’s stock price rose 743% last year and 14% this year. As of the 10th, the Tesla closing price is $804.82.
Meanwhile, Tesla’s director Antonio Gracias sold 15,747 shares of its stock for an average of $845.36 per share, and then bought 150,000 contracts for a call option (the right to buy at a predetermined price in anticipation of an increase in the stock price).
The call option expiration and strike price are $52.38 in June next year and $68.56 in June 2025, respectively.
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