Elon Musk has now cashed out $12 billion in Tesla stock in a 5-week selling spree, as he jokes he wants to quit his jobs



The pool is via a photo.

Musk has sold another $1 billion of his shares in the company, meaning he has sold about a tenth of his holdings.

The billionaire took to social media again overnight, this time to say that he was thinking of quitting his roles as CEO of both companies, taken as a joke by his fans.

Musk sold 934,091 shares of the electric-vehicle maker on Thursday for nearly $1 billion.

He exercised his stock options to purchase 2.17 million shares ofTesla at a price of $6.24 each. According to the SEC filing, the stock sales were made to cover tax obligations.

In early November, the boss asked his followers if he should sell 10% of his stock, getting a resounding "yes" in reply.

In the last five weeks, he has sold over 10 million shares, bringing the total to $11.82 billion.

Since Musk began selling, the stock's price has dropped 18%, but is up 42% this year. It was down 1.2% in pre-market trading.
To hit the 10% target, Musk would need to have sold 17 million shares.
The world's richest man has been selling his shares in the electric car company, but he has also exercised his options and picked up more than 12 million shares. He has raised his stake in the EV-maker because his acquisitions have outpaced sales.

In September, Musk said he would sell shares to cover the cost of taxes from exercising options that were set to expire in 2022.

Analysts estimated that Musk would incur a $10 billion tax bill next year because he would have an incentive to liquidate some holdings.
The CEO of the electric car maker said on his verified account that he's thinking of quitting his job to become a full-time celebrity. Musk is also the CEO of the EV maker and the company that makes rockets.

elonmusk has a verified account.

It wasn't clear if he was serious, but Musk is known for his social media antics. His replies to comments on the account suggested he was joking.

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Business Insider has an original article.