The younger brother of Tesla CEO Elon Musk – Kimbal Musk – sold his share of the company for $ 25.6 million. The document is posted on the website of the US Securities and Exchange Commission (SEC).
Kimball Musk got rid of 30 thousand Tesla securities on February 9 at an average price of $ 852.12 per share. After the deal, he had 599,740 shares left, for a total value of about $ 483 million.
Earlier, Chinese regulators called Tesla representatives to talk about the quality and safety of the company’s vehicles. Authorities have held talks with business executives at the auto giant in Beijing and Shanghai following customer complaints about problems with the cars. For example, failures when driving an electric car, as well as a battery fire.
The company agreed to the requirements and recognized a number of deficiencies in its business processes. In early February, Musk acknowledged the correctness of one of his company’s harshest electric car critics, technical consultant Sandy Munroe. The billionaire noted that, in general, claims to quality were adequate.