Musk Sells Nearly $7 Billion Worth of Tesla Shares This Week

Musk Sells Nearly $7 Billion Worth of Tesla Shares This Week
SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla's gigafactory in Gruenheide, near Berlin, Germany, on May 17, 2021. Michele Tantussi/Reuters
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Tesla CEO Elon Musk offloaded a combined $6.9 billion worth of shares in the electric car company this week, taking advantage of a meteoric rally that vaulted the firm’s value to over $1 trillion.

The billionaire sold 1.2 million shares held by his trust for more than $1.2 billion on Friday, the latest in a flurry of his stock transactions, according to a U.S. securities filing released later in the day.