The Chief Executive of Tesla, Elon Musk, has traded another 934,090 shares in the electric vehicle manufacturer for $1.2 billion.
Musk had confirmed that he would remit over $11 billion in taxes in 2021
He had also speculated that the tax rate would increase in 2022.
Musk has been selling his Tesla stock after he polled Twitter users about shedding 10 percent of his stake in November.
He has so far sold over 15 million Tesla shares.
In November, he sold about $5 billion worth of Tesla’s shares — and almost $1 billion again in the same month.
Musk’s wealth is strongly tied to Tesla — and SpaceX valued at 100 billion after a funding round some months ago.
He will be required to pay this tax bill to receive compensation of more than $23 billion in the form of stock options that would otherwise expire in August 2022.
Wall Street Journal stated that Musk’s holdings in Tesla have grown from about 170 million shares to over 177 million shares for exercising his options this quarter.
