• 22/07/2024 08:07

Elon Musk significantly increased his stake in Tesla

Tesla CEO and founder Elon Musk increased his stake in the company from 13% to 20.5%. The value of the share is estimated at just over $120 billion. Business Insider writes about this with a link to documents submitted to the US Securities and Exchange Commission (SEC).

Elon Musk has significantly increased his stake in Tesla

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According to the document, Musk owns about 441.06 million ordinary shares of Tesla, as well as options to purchase 303.96 million securities, which can be exercised within 60 days from December 31, 2023

Previously, Musk owned 13% of Tesla shares, and this is a significant increase in the share, notes Business Insider.

But the current share of 20.5% is still less than what he had Musk a few years earlier: then he owned 22% of Tesla shares. In 2021-2022, he sold almost $40 billion worth of company shares. Musk took this step to finance the purchase of Twitter, pay off debts and pay tax bills.

In January, Musk said he wanted to get a 25% stake in Tesla to have more influence in decision-making.

Tesla shares fell by 11% in six months. Since the beginning of 2024, the drop has been 19%.

minfin.com.ua

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