Musk Exercises Tesla Stock Options on June 16, Bags $116B Gain; Holdings Rise to 19.9%

According to SEC filings, Elon Musk exercised 304 million Tesla stock options on June 16 at the adjusted strike price of $23.34 per share. With Tesla's closing price at $404.66 on that day, the paper gain from the single transaction reached approximately $116 billion. After net settlement, Musk received approximately 286 million shares. The shares are subject to restrictions and cannot be sold until 2028. Following the exercise, Musk's total holdings of Tesla common stock amount to approximately 700 million shares, representing 19.9% ownership.
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