Kimbal, brother of Elon Musk, sold $109 mn in Tesla stock ahead of Twitter poll

Kimbal Musk sold Tesla Inc. shares a day before his brother, Chief Executive Officer Elon Musk, launched his now infamous Twitter poll. Kimbal, a Tesla board member, sold 88,500 Tesla shares on Nov. 5, according to a filing that day after the market close. He sold the stake at an average price of $1,229.91 per share via JPMorgan, the filing says. That amounts to about $109 million. The shares sold represented about 15% of Kimbal’s equity stake, excluding options.

Elon Musk proposed selling 10% of his Tesla stock on Twitter Saturday, saying he would “abide by the results of this poll, whichever way it goes.” His legion of followers decided the world’s richest person should sell a stake worth about $21 billion. Tesla shares slumped after the poll, closing down the most in five months.

Tesla shares fell nearly 12% on Tuesday, in its worst two-day performance since March, after Insider reported Michael Burry said in a tweet that Elon Musk may want to sell shares to cover personal debts.