Tesla CEO Elon Musk has sold more than $1.1 billion of his shares in the company, CNBC has reported citing financial documents.
In total, Musk has sold 930,000 shares. This corresponds to around 0.5% of Musk's shares. He currently has about 170 million shares left.
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Musk has said he has decided to sell part of his stake in the company to meet his tax obligations. This sale is part of the plan agreed in September. Such plans are being drawn up by the companies' largest share holders to avoid insider trading charges.
Musk has previously initiated a Twitter poll on whether he should sell 10% of his Tesla shares. A total of 3.5 million accounts participated in the vote, 58% voted "yes."