In accordance to regulatory filings dated on Thursday, Tesla CEO Elon Musk sold 934,091 shares of the auto maker’s inventory — equating to $1.01 billion. In accordance to Bloomberg, the gross sales were supposed to lend a hand Musk offset taxes on the relate of about 2.1 million alternate choices.
At this level, Musk has sold about $10.9 billion worth of Tesla inventory since asking if he ought to in a Nov. 6 Twitter ballot.
I will abide by the outcomes of this ballot, whichever formulation it goes
— Elon Musk (@elonmusk) November 6, 2021
In the Twitter publish, Musk proposed selling 10% of his Tesla inventory due to “powerful is made no longer too prolonged within the past of unrealized positive aspects being a technique of tax avoidance.” After 57.9% of netizens polled approval, the billionaire appears to be like to be making excellent on his promise to abide by the outcomes of the ballot.
It be unclear whether or no longer Twitter customers in point of fact convinced Musk to promote his shares, as the CEO said he was planning to promote “an gigantic block” of his alternate choices within the fourth quarter at a September convention. As a replacement, the Twitter pollmay additionally fair receive been a technique of preventing an gigantic selloff in Tesla inventory.
Then again, Musk calm desires to promote about 7 million shares of the company if he desires to promote 10% of his stake.