Elon Musk Sells Another $1.01B Worth Of Tesla Stock To Pay His Tax Bill

Tesla Inc TSLA CEO Elon Musk has sold another 934,091 shares worth nearly $1.01 billion in order to fulfill his tax obligations, as per filings made with the U.S. Securities And Exchange Commission Thursday.

What Happened: The Tesla CEO also exercised options to purchase 2.1 million shares of the automaker at $6.24, as per one of the filings.

In late November, Musk had sold $1 billion worth of Tesla shares.

See Also: How To Buy Tesla (TSLA) Shares

Why It Matters: Since early November, Musk has sold 10.1 million shares for $10.9 billion and exercised options to buy 10.7 million shares.

Musk polled his Twitter audience last month asking them if he should sell 10% of his stock. It was reported earlier that the plan to sell shares was set in motion months before the poll.

Musk does not receive a salary but is instead compensated through a stock options plan. He faces a $15 billion tax bill. The entrepreneur indicated earlier this year that he only sells shares when there’s no choice.

Price Action: On Thursday, Tesla shares fell nearly 1% to $1,084.60 in the regular session and dropped another nearly 1% to $1,073.99 in the after-hours trading.

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Photo: Courtesy of Nvidia Corp. via Flickr