Elon Musk’s sales of Tesla stock last week came as little surprise to those who have been following the story of his potential tax bill of $10 billion to $15 billion on stock options granted in 2012. Yet according to accountants, most of his sales don’t appear to be connected with taxes — which could mean he will unload far more stock than expected.
The options on Musk’s 23 million shares expire in August, which is also the deadline for the tax bill due to California and the Internal Revenue Service. Musk started exercising the options Nov. 8. He exercised $2.5 billion in shares and sold $1.1 billion of those exercised options to pay the taxes.
“The shares of common stock were sold…