Elon Musk, the richest man in history, has now cashed out more than $10 billion of his stake in electric-vehicle manufacturer Tesla.
The windfall gain is the latest in a series of insider transactions by executives, coinciding with a year of stellar stock market returns. Earlier this week, Microsoft CEO Satya Nadella dumped half his holdings in the software giant.
According to calculations by the Wall Street Journal, Musk topped the double-digit billion mark on Thursday based on the latest filings to the Securities and Exchange Commission.
The Tesla boss plans to sell 10% percent of his stake, billed by Musk as a means of paying taxes amid continued pressure from U.S. lawmakers like Sen. Bernie Sanders that billionaires pay “their fair share.” Musk has responded brusquely to the progressive senator, tweeting at one point, “Want me to sell more stock, Bernie? Just say the word.”
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