Tesla board member Kimbal Musk sold just a few of his stock within the electrical care firm factual sooner than his brother, founder and CEO Elon Musk, upset the half impress by polling his Twitter followers on whether he should sell just a few of his holdings.
Jerod Harris | Getty Pictures
All instructed, Kimbal Musk sold off about $109 million of Tesla stock Friday, at some point sooner than his brother’s Twitter ballot, constant with a Securities and Alternate Price filing.
He sold 25,000 shares for $74.17, then sold 88,500 shares at a median impress of about $1,230 and donated a further 25,000.
Elon Musk sank Tesla shares after he polled his 62.8 million Twitter followers on whether he should sell his shares.
“Grand is made now no longer too long ago of unrealized good points being a technique of tax avoidance, so I propose selling 10% of my Tesla stock,” he wrote on the social media platform. “Get you help this?”
3,519,252 folk voted in a considerably end device, with 57.9% of voters announcing breeze and 42.1% announcing no. He vowed to “abide by the implications” of the ballot, it’s no longer considerable what they had been.
The quiz and its subsequent results brought Tesla stock down over 5% in pre market shopping and selling on Monday morning.
Musk eminent in a apply-up Tweet that he does “now no longer bewitch a cash salary or bonus from any place” and that in supreme owning stock, he can supreme pay private taxes by selling stated stock.