Kimbal Musk, a Tesla director and Elon Musk's younger brother, sold 75,000 shares of Tesla on Thursday, reducing his stake by nearly 5% and netting him about $28 million. The sale comes amid a period of volatility for Tesla shares, which have surged since the US election but dropped 13% this year. Analysts are closely watching insider stock transactions for clues about company sentiment.
Elon Musk 's brother sold Tesla stock worth about $28 million in a single day, per a Securities and Exchange Commission filing published on Monday.Kimbal Musk, a Tesla director, cashed in 75,000 shares of the electric vehicle company on Thursday. The latest disposals trimmed his stake by nearly 5%, to 1.46 million shares, worth about $514 million at Monday's close.
But Tesla shares have dropped by 13% this year even as the broader stock market has risen, fueling a nearly $40 billion decline in Elon Musk's net worth, per the Bloomberg Billionaires Index. He remains the world's richest person, with an estimated net worth of $395 billion — $142 billion more than that of his nearest rival, Mark Zuckerberg.
TESLA STOCK SALE ELON MUSK KIMBAL MUSK INSIDER TRADING
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