According to a pair of financial filings with the Securities and Exchange Commission, Musk sold another 934,091 shares of his electric car company, which is worth around $906.49 million.
He exercised options to buy 2.13 million shares at a strike price of $6.24 per share, which was granted to him in a 2012 compensation package.
On Monday, the shares of the company closed down 5%.
The Rule 10b5-1 trading plan was part of the latest insider transactions by the CEO of the company. This type of plan allows company insiders to execute trades in their own company's stock.
Musk, who was just named Time Magazine's 2021 Person of the Year, still has millions of stock options that he needs to exercise by August 2022. He said at the Code Conference that he would likely sell a lot of stock in the fourth quarter.
On Nov. 6, Musk asked his followers to vote on whether or not he should sell 10% of his holdings in the electric car and solar businesses. Musk proposed selling 10% of his stock in the company because of tax avoidance. Do you support this?
He gave his millions of followers the option of voting "Yes" or "No" and said he would abide by the results. About 3.5 million people responded, with 57.9% voting "Yes", according to the results display.
Senate Finance Committee Chairman Ron Wyden wrote on his own website that "whether or not the world's wealthiest man pays any taxes at all shouldn't depend on the results of a Twitter poll." It's time for the billionaires income tax.
Musk responded to Wyden with a crude retort, saying that he was against a billionaire's tax and President Joe Biden's spending.
At the Wall Street Journal's CEO Council Summit, Musk said that "if you zeroed out all the billionaires, you still wouldn't solve the deficit in the United States." He cursed about the anti-billionaire sentiment in the U.S.
Musk needs to sell another 5 million shares of the company to fulfill his promise.
In the month of December, the CEO sold more than $2 billion worth of stock, in batches amounting to nearly $1 billion, bringing his total sold in the month to more than $3 billion. He sold $9.85 billion in stock in November.
The CFO, Chief Accounting Officer, and Senior Vice President of Powertrain and Energy Engineering have all sold their shares in the company.
