Tesla, the electric car manufacturer owned by Elon Musk, announced that it plans to sell $ 5 billion in stock.

Tesla announced its sales program, with the value of its stocks gaining about 500 percent in 2020 alone. Tesla announced that it plans to sell up to $ 5 billion in stock.

Tesla submitted the report required for this sale to the US Securities and Exchange Commission (SEC). Tesla’s owner and CEO Elon Musk became the third richest name in the world with assets reaching $ 115.4 billion.

The increasing Tesla shares played an important role in the increase in Musk’s wealth.