Elon Musk’s Tesla stock sale passes $10 billion

Right here is how insanely prosperous Elon Musk is: He has unloaded $10 billion of his inventory within the past month — and might well perchance produce that 15+ more instances given his silos of shares.

  • Musk ranks No. 1 on the worldwide Bloomberg Billionaires Index, with a glean worth of $284 billion.

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What’s occurring: When Musk polled Twitter in early November about whether or to not promote 10% of his Tesla inventory (“Sell!” Twitter answered), his stake used to be worth over $200 billion, or 17% of the firm, the Wall Avenue Journal reported.

  • Now his “portion-selling spree” is stretching into a 2nd month, per the Journal.

  • The sales are fragment of a belief to inform some of his vested inventory alternatives that will expire subsequent year, and to promote some holdings to quilt tax responsibilities, Axios’ Kia Kokalitcheva notes.

👢 P.S. With an SEC filing Wednesday, Tesla officially moved its HQ from Palo Alto to its Gigafactory Texas out of doors Austin.

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