Texas tech giant Elon Musk sells another $1 billion in Tesla stock

The automobile and dwelling entrepreneur previously launched on Twitter plans to promote 10% of his stock holdings. 

Elon Musk’s current net worth exceeds $275 billion

Elon Musk’s most modern fetch price exceeds $275 billion

Pascal Le Segretain – Getty Photos

Texas’ resident tech billionaire Elon Musk sold off one other huge chunk of his stock holdings this week to the tune of $1 billion in Tesla (TSLA) shares. 

On Tuesday, the now Austin-basically based Tesla ​​CEO exercised alternatives to own interplay 1.6 million shares of Tesla stock at $6.25 per portion per a compensation bundle agreed upon in 2012, and then sold 934,090 shares for approximately $1 billion, according to CNBC

The most modern sale gave the affect to connect him closer to the aim of promoting off 10 percent of his stake in Tesla, a resolution he left to the mercy of his extra than 60 million Twitter followers relief in early November. 

“Unprecedented is made lately of unrealized gains being a mode of tax avoidance, so I propose promoting 10% of my Tesla stock. Lift out you give a enhance to this?” Musk requested his Twitter viewers on Nov. 6, attaching a simplistic sure/no poll. Musk mentioned he would honor the consequences of the poll—indirectly, 57.9% of the voters pushed him to promote the stock. 

Unprecedented is made lately of unrealized gains being a mode of tax avoidance, so I propose promoting 10% of my Tesla stock.

Lift out you give a enhance to this?

— Elon Musk (@elonmusk) November 6, 2021

Since September, Musk has sold 15.6 million shares tallying approximately $16.4 billion as portion of a shopping and selling opinion he space up. But Musk is noteworthy from missing in his corporations’ stocks. He’ll finally extinguish 2021 with 177.7 million shares, up from 170.5 million he held in belief on the starting build of 2021, according to CNN

No topic its democratic exterior, it appears Musk’s promoting spree is partially to pay his huge tax invoice of $11 billion, seemingly the greatest particular person tax invoice in American historical past and a ample exchange from Musk’s previous funds. A ProPublica report published earlier this 365 days chanced on that Musk paid no federal profits tax at all in 2018—when he used to be admittedly most effective the 2nd richest man on the planet—regardless of seeing his wealth amplify $13.9 billion at some level of the previous four years. 

Musk’s most modern fetch price exceeds $275 billion per his ownership stakes in Tesla and SpaceX. He doesn’t gain an annual salary or money bonuses. 

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