Kimbal Musk. Source: Kimbal Musk website
Elon Musk’s younger brother of Tesla’s CEO sold $25.6 million worth of Tesla shares (about 28 billion won).
CNBC reported on the 11th (local time) that it had sold 30,000 shares of Tesla stock held by Musk’s younger brother Kimbal Musk. According to Bloomberg, Kimbal Musk’s average selling price was $852.12 per share. On this day, in the US NASDAQ market, Tesla’s stock price ended at $811.66, up 0.85% from the previous day. Tesla’s stock price rose by 743% per year last year, and then rose by 14% until this day.
Kimbal Musk is a member of the board of Tesla and SpaceX. He is also the founder of the American catering company Kitchen Restaurant Group.
Kimbal Musk holds 590,740 shares of Tesla stock, worth $483 million (approximately 530 billion won) in market value after this transaction. He also sold Tesla stock last year.
Another Tesla board member, Antonio Gracias, CEO of Boler Equity Partners, also sold 15,747 Tesla shares. Instead, he bought 150,000 long-term call options (LEAPs). The strike price for this call option is $52.38 and $68.56, respectively, with expiration dates in 2022 and 2025, Bloomberg reported.
Reporter Gowoon Lee [email protected]
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