Elon Musk Sells $5 Bln Of Tesla Stock To Meet Tax Obligations

Elon Musk, the founder and CEO of Tesla Inc., has sold around $5 billion worth shares in the luxury electric car maker, according to filings with the U.S. Securities and Exchange Commission. Musk sold 934,000 shares worth over $1.1 billion, while his trust sold more than 3.5 million shares worth over $3.88 billion. The stake sale is expected to cover tax obligations for stock options.