According to fresh US Securities and Exchange Commission (SEC) filings, Musk has sold 934,091 of the automaker’s nearly two million shares.
Elon Musk has sold $1.1 billion worth of Tesla stock after being mocked on Twitter over a contentious poll last weekend in which he advocated selling 10% of his stake in the electric carmaker. According to fresh US Securities and Exchange Commission (SEC) filings, Musk has sold 934,091 of the automaker’s nearly two million shares. According to The Verge, the shares he sold are worth around $1.1 billion at the current business price.
Clearly, two of Global Inc’s most expensive tweets – and who better than Elon Musk, the world’s wealthiest man, to have sent them. “Much has been said recently about unrealized gains being a form of tax evasion, therefore I suggest selling 10% of my Tesla shares,” he stated in a tweet launching the poll. Regardless of the outcome of this poll, I shall follow the results.” Elon Musk’s Twitter poll found that over 58 percent of his fans wanted him to sell 10% of his shares (worth $24 billion) in the electric vehicle firm, presumably to pay more taxes.
“Note, I do not accept a monetary salary or bonus from anyone,” Musk wrote. I only have stock, thus selling shares is the only method for me to pay taxes personally.” The ensuing carnage sank Tesla shares by $200 billion (market capitalization was $1,211 billion at the end of the day on November 5 and $1,023 billion on Tuesday). Musk’s personal fortune has plummeted by $50 billion. He has been a vociferous opponent of a plan in the United States to tax unrealized profits on publicly listed assets.
