Kimbal Musk, Ayalon Musk’s grieving brother and a board member at Tesla, sold 30,000 shares at an average price of about $ 852 per share and a total of $ 25.6 million. The company’s share fell by about 5% last night after it was announced this week that five government agencies in China are examining the company’s conduct and work practices in a factory in China, in order to check whether the company has broken the law and tried to save costs at the expense of driver safety. Has the golden age of Tesla and Elon Musk in China come to an end?
If you want to specialize in the capital market and have a big head and motivation, you can suit us.
The job can be part-time; Flexibility in working hours; Work from home too
Priority (optional) for writing experience and basic knowledge of the capital market.
Leave details and we will get back to you
Thank you for leaving details, we will try to get back to you soon
Following the transaction, Kibmel reduced its holding in the company to 599,740 shares valued at approximately $ 483 million. According to estimates, those close to Tesla hold a 19.6% share of the company’s total capital. Another stakeholder in the company, Antonio Gracias, a board member at Tesla and SpaceX and who is considered very close to Ayalon Musk and among Tesla’s first investors, sold a huge amount of shares. Antonio sold 150,747 shares of the company for over $ 1 billion, leaving with a holding of only 2,545 shares.
The investor still believes in the company, but seems less at the current price. Anthony replaced the same shares sold with about 150,000 long-term options (LEAPs) to be repaid in June 2022 and 2025 at exercise prices of $ 68.56 and $ 52.38, respectively. However, Musk’s friend indirectly owns about 1.3 million Tesla shares through AJG Investment House.
The year 2021 has just begun, and already the rate of stock sales by close relatives of the company reaches a peak in 2013. In that year, more than 110 million shares were sold by close relatives to the company, so Musk was full of passion and faith and bought 100 million shares, which balanced the equation. In 2018, Ayalon Musk added about 60 million more shares, and since 2019, the rate of purchases of the rock star and his friends has decreased, while the rate of sales has increased.
Transactions of interest in Tesla by quarters
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment