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▲ Kimbal Musk, brother of Tesla’s CEO, Elon Musk.
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Kimbal Musk, the younger brother of Elon Musk, the CEO of Tesla, an American electric vehicle company, sold 28.3 billion won worth of Tesla shares.
Kimbal, director of Tesla and the owner of a restaurant kitchen restaurant, sold 30,000 Tesla stocks worth $2,550,000 (28339.2 million won), reported on the 11th (local time) by Business Insider, a U.S. economic media outlet.
According to a report by the US Securities and Exchange Commission (SEC), Kimbal sold Tesla shares on the 9th for an average of $852.12 per share. The amount sold is equivalent to 5% of the stake.
Kimbal currently owns 590,740 shares of Tesla stock worth $483 million (5346 billion won).
CNBC said, “Tesla stock price rose sharply after being incorporated into the S&P 500, a representative stock index in the United States, and Kimber’s stock was then sold.”
Tesla’s share price rose 743% last year and 14% this year. As of the 10th, the Tesla closing price is $804.82.
Meanwhile, Tesla’s director Antonio Gracias sold 15,747 shares of its stock for an average of $845.36 per share and then bought 150,000 contracts for a call option (the right to buy at a predetermined price in anticipation of an increase in stock prices).
The call option expiration and strike price are $52.38 in June next year and $68.56 in June 2025, respectively.
Reporter Shin Jin-ho [email protected]
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