Kimbal Musk, the youngest brother of Tesla’s (NASDAQ: TSLA) CEO Elon Musk had sold over 30,000 shares of the electric car manufacturer this month. According to a securities filing, the shares deal is estimated to be $25.6 million. Meanwhile, Antonio Gracias, another director of the board had also sold over 150,000 shares of Tesla earlier this month.
Elon Musk’s youngest brother is a member of the Tesla board. He is also the co-founder of the Kitchen Restaurant Group that he currently owns. Additionally, Kimbal is a board member of SpaceX, Elon Musk’s rocket company.
Kimbal sold his Tesla stocks at $850 per share
Tesla’s stock price surged more than 400% in the past 12 months. Consequently, Elon Musk, CEO of Tesla replaced Jeff Bezos as the richest person in the world. Meanwhile, Kimbal sold Tesla’s stocks at $850 per share, while the company’s stock closed at under $805 per share on Wednesday. The sale represents 5% of Kimbal’s stake in the electric car manufacturer.
According to FactSet, Kimbal held 600,000 shares as of last October, making Elon’s little brother the 5th largest insider stockholder. However, Kimbal had sold a lot of his stocks last September.