Tesla CEO Elon Musk makes $24 million on IPO

 Tesla CEO Elon Musk makes $24 million on IPO
Tesla Roadster / Tesla Motors

With public trading of common stock in Tesla Motors now underway, Tesla CEO Elon Musk managed to earn at least $24 million.  Public filings show that Musk has already sold 1.42 million personally-held shares in his company.

Musk is believed to have sunk at least $70 million of his own money in Tesla, and has made massive investments in his other companies, including private rocket builder SpaceX and solar panel firm SolarCity.  He earned $300 million through the sale of PayPal and Zip2, however a filing related to his much publicised divorce from wife Justine showed that he only had $650,000 remaining in "liquid assets," according to the Detroit Free Press.

Tesla's CEO still has 26.9 million shares of the company.  The stock closed at $23.83 on Wednesday, setting the value of the shares at over $641 million.

Source: freep.com

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 Xenicide Xenicide
Heard that the stocks dropped 13% on the third day of trading.
July 1, 2010 12:04 pm
 997-GT500-STI 997-GT500-STI
I really don't see how this company will make it at 50$ a pop???
July 3, 2010 2:22 am