According to an SEC filing, Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), has sold an additional 934,090 shares worth $1.02B.
The outsourced stock includes the billionaire's holding in both his automaker for electric vehicles and his solar company.
Musk also carried out options to buy 1.6 million Tesla shares at a spot price of $6.24 per share. He obtained this as a part of a settlement package that he received a little over nine years ago.
After exercising his options this quarter, Elon Musk's portion of the company climbed from 170.5 million to over 177 million shares.
In terms of federal and California wage taxes, Musk is anticipated to pay close to $11 billion, which would make it the greatest single personal tax payment in US history.
If he shoulders this tax load, he would be compensated with around $23B. This will appear to be stock alternatives that expire in August.