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Tesla pays dearly for the tweet: lost 200 billion. But Musk’s brother sold first

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Tesla stock retreated to $ 1,023 from $ 1,173 in one sitting. A bloodbath, Wednesday, November 9, for Tesla, which lost 11.9% and in two sessions lost almost $ 200 billion in value.

Musk’s Twitter poll (personal loss to him about 50 billion) that asked if he should sell 10% of his stake was followed by news of his brother Kimbal Musk selling $ 109 million worth of Tesla stock right on. the day before the poll launched by the CEO of the electric car maker.

Musk asks the network, Kimbal sells

Kimbal, 49, a member of Tesla’s board of directors, sold 88,500 Tesla shares on November 5, according to a document filed Monday after the market closed. It sold the share at an average price of $ 1,229.91 per share through JPMorgan. which is equivalent to approximately 109 million. The shares sold represented approximately 15% of Kimbal’s equity stake, excluding options.

Who is the other Musk

Kimbal attended cooking school and established himself as a sustainability-oriented Brooklyn entrepreneur. It has assets valued at around 950 million, according to the Bloomberg Billionaires Index, although Tesla’s latest proxy shows it had 599,740 shares, equal to all of its capital at the time, pledged as collateral for personal loans.

The cowboy-hat sports chef-restaurateur is CEO of Kitchen Restaurant Group and co-founder of Square Roots Urban Growers, an urban farming community that grows in spaces that include old shipping containers.

Source

Tesla pays dearly tweet lost billion Musks brother sold

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