Tesla’s Magic . Mask sold 23 million shares and his ownership increased by two million shares

Despite the huge sale made by the richest man in the world, Elon Musk, last year, on Tesla shares, which he represented in the sale of shares and the exercise of some options, in addition to his donations, which totaled 22 billion dollars, its stake in the company L’industria delle auto he founded has increased thanks to its package bonus.

Musk sold $ 16 billion in shares last year and, according to a document released Monday by the U.S. Securities and Exchange Commission, donated 5 million shares, worth about $ 6 billion, to a charitable foundation in November, CNBC reported. reviewed it.

However, given the nature of the exercise of options, Musk effectively ended the year with a larger ownership stake – and more shares – in Tesla.

In 2021, Musk acquired 22.8 million shares, worth $ 28 billion, last fall when the sale began.

The way in where the exercise of options works is that Musk has started converting 22.8 million options in actions. The options allow Musk to buy Tesla stock at $ 6.24 per share, which was trading at over $ 1,000 last fall.

With each transfer of options, he will simultaneously sell the shares to pay taxes, as the options are taxed as income. Even though he dumped billions of dollars worth of stock to pay taxes, he was accumulating more shares at the lowest option price, thereby increasing his ownership in the company.

In total, Musk sold 15.7 million shares for $ 16.4 billion. Add to that the shares granted and its total sales amounted to 20.7 million shares. However, he acquired 22.8 million shares through exercise of options, leaving him with another 2 million Tesla shares at the end of the year. He currently owns 172.6 million shares, or 17% of the company’s capital, which he places away from the largest single shareholder.

Musk began his sales by taking a survey of his Twitter followers to sell 10% of his stake in Tesla, a poll that ended with 58% in favor of the sale and 42% against him.

Eventually, he kept his promise to sell 10% of his stake. But he regained more options, giving him a round trip in shares that have left him billions in cash, the largest tax payment in U.S. history, and more Tesla stock.

Musk’s net worth – $ 227 billion – is set to grow again in future. His neighbor bonusprojected for 2028, will likely be greater than that obtained in 2012, which it exercised last year.