Here's Why Elon Musk's Brother Unloaded $25 Million In Tesla Stock

4 weeks ago 11

Kimbal Musk, member of Elon Musk and a committee subordinate of Tesla Inc. (NASDAQ:TSLA), has offloaded over $25 cardinal worthy of Tesla shares, arsenic per a caller SEC filing.

What Happened: Kimbal Musk, known for his regular trading activities, sold 56,820 shares of Tesla common banal connected December 9.

According to the filing, the shares were traded at a weighted mean price of $450.66, with idiosyncratic transactions ranging from $450.44 to $450.90, totaling astir $25.6 million.

The SEC filing besides disclosed that Kimbal donated 15,242 shares to a donor-advised fund. Based on the execution terms of the sold shares, this donation is valued astatine astir $6.8 million.

Despite these transactions, Kimbal inactive holds a important involvement successful Tesla, with 1,376,373 shares held directly.

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Kimbal is recognized for his close predictions connected Tesla’s banal performance, with Tesla’s existent price-to-earnings ratio exceeding 300.

Why It Matters: The merchantability comes amid a surge successful Tesla’s banal price, providing an opportune infinitesimal for Kimbal to currency in.

His donation to the donor-advised fund is a communal practice, allowing him to claim the taxation deduction for the charitable publication instantly portion distributing the funds to circumstantial charities over time.

This determination demonstrates Kimbal’s strategical attack to managing his important involvement successful Tesla, balancing idiosyncratic summation with philanthropic efforts.