CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Elon Musk sells $1bn in Tesla (TSLA) stock, thinks of quitting jobs

By Joseph Toppe

15:35, 10 December 2021

Elon Musk
Elon Musk – Photo: Shutterstock

Elon Musk sold nearly $1bn (£757m) of his Tesla shares on Friday, a day after tweeting that he was thinking about quitting his jobs to become a full-time influencer.

A filing with the US Securities and Exchange Commission shows Musk sold another 934,091 Tesla shares, worth about $963.2m, while also exercising options to buy 2.17 million shares at $6.24.

In total, Musk has exercised options to purchase around 12.3 million Tesla shares, adding to his overall stake of the company.

Since 8 November, Musk has sold nearly 11.03 million of his shares totalling $11.82bn.

Musk accommodated a 6 November Twitter poll where users declared he sell 10% of his company stock, although some of the sales were already in play.

Musk’s 10% equals nearly 17 million shares. Following his recent offload, Musk is left with around 5.97 million shares.

Elon Musk tweetElon Musk tweets about thinking of quitting his jobs

Elon's quitting his jobs? Tesla shares lower

In a tweet on Thursday, the Tesla CEO said he was "thinking of quitting my jobs & becoming an influencer full-time wdyt,"


141.54 Price
+4.460% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.21


454.06 Price
-3.260% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.18


16.68 Price
+7.630% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.13


236.66 Price
-1.230% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.10

Musk did not elaborate on the statement.

He followed with another tweet that said: “If you like the chorus, you’ll love the drop.”

Musk is also the CEO of SpaceX, an American aerospace manufacturer based in California.

While SpaceX is a private company, shares for Tesla are down near 0.43% in early trading.

Over the last month, Tesla shares are off by 6% but remain up 42% year to date, and up 60% over the past 12 months.

A report in the Guardian this week said Musk told reporters a big reason he broke up with his musician girlfriend Grimes was due to his work at SpaceX and Tesla.

Read more: Elon Musk sells Read more: Elon Musk sells $1.1bn in Tesla (TSLA) shares following Twitter poll.1bn in Tesla (TSLA) shares following Twitter poll

Markets in this article

Tesla Inc (Extended Hours)
236.66 USD
-2.93 -1.230%

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading