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Elon Musk's brother Kimbal sells $25 million worth of Tesla shares
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STOCK MARKET NEWS:
Elon Musk’s brother Kimbal sells $25 million worth of Tesla shares

Kimbal Musk, co-founder of The Cooking area Neighborhood, speaks throughout the yearly Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 3, 2016.

Patrick T. Fallon  | Bloomberg | Getty Images

Kimbal Musk, brother of Tesla CEO Elon Musk, offered 30,000 shares of the electrical vehicle maker this month for approximately $25.6 million, according to a securities filing.

The more youthful Musk is a member of the board at the pioneering car manufacturer. Another director, Antonio Gracias, offered more than 150,000 shares previously this month, according to securities filings.

The sales followed a significant run for Tesla, which signed up with the S&P 500 late in 2015. Its stock rate is up more than 400% in the previous 12 months however has actually stalled in current weeks and is down a little over the previous month.

Kimbal Musk’s sales came at simply above $850 per share, according to securities filings. Tesla‘s stock closed at simply under $805 per share on Wednesday.

The sale represents about 5% of the more youthful Musk’s stake in Tesla. He held 600,000 shares as of October, according to FactSet, making him the 5th biggest expert shareholder. He likewise offered a big quantity of stock last September.

Musk, a restaurateur, was formerly a board member for Chipotle Mexican Grill.

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Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me, do you remember
where you read about this ?
Are you kidding !?
of course I can, it was here
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STOCK MARKET: Elon Musk's brother Kimbal sells $25 million worth of Tesla shares

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