Two Weeks After Twitter Poll, Elon Musk Has Unloaded Billions In Tesla Stock

On Saturday, November 6, Elon Musk logged onto his Twitter memoir and looked to build a multibillion-dollar monetary decision into the hands of hundreds of thousands of on-line voters. “A lot is made currently of unrealized positive aspects being a arrangement of tax avoidance, so I propose selling 10% of my Tesla stock. Cease you make stronger this?” he asked his followers. “I’ll abide by the outcomes of this poll, whichever manner it goes.” Virtually 58% of respondents voted in prefer of the sale. 

Tesla CEO Elon Musk has sold almost $9 billion worth of stock over the course of two wild weeks. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP thru Getty Photographs)

AFP thru Getty Photographs

Precise to his discover, the electrical automobile billionaire started parting with shares valid a pair of days later. Two weeks in, Musk has sold roughly 8.2 million shares, worth about $8.8 billion—striking billions of bucks into the famously cash-dejected billionaire’s pockets, even after he used about $3 billion of the proceeds to pay taxes due from exercising some of his stock alternatives. The sales picture 3.2% of Musk’s Tesla stake, that manner he quiet has 11.6 million shares—worth about $13.2 billion as of Friday’s market shut—left to promote if he plans on hitting the 10% blueprint he area for himself on Twitter.

Even supposing Musk has sold 3.2% of his Tesla stock to this point, his share count is most efficient down by 1.2% this skill that of he’s been shopping new stock on the same time he’s been selling shares within the marketplace. He has exercised alternatives to make your mind up 6.4 million shares at $6.24 apiece, and has sold about half of them to duvet the tax invoice due from exercising the stock. Musk quiet has 19.1 million more alternatives, currently worth $21.6 billion, to divulge sooner than they expire in August 2022, so he’s in general doing critical more offers within the weeks or months to come.

Prior to this selling bonanza, Musk has dumped Tesla shares on most efficient two events. In 2010, he sold roughly 1.4 million shares for $24 million presently after Tesla went public, and in 2016, he unloaded 2.7 million shares for some $593 million, which he used to duvet taxes he owed for exercising some of his Tesla alternatives.

On Friday, Musk’s estimated win worth settled at $296.2 billion after Tesla shares jumped 3.7%, alongside side about $9.5 billion to his fortune in a single day. His win worth has ping-ponged not too prolonged ago, soaring above a previously unparalleled $300 billion earlier this month sooner than losing by higher than $50 billion after shares slid following Musk’s announcement that he would promote stock. Musk on the opposite hand stays the richest particular person in novel historical past, smartly sooner than Jeff Bezos (who is worth $221.9 billion), French style prosperous particular person Bernard Arnault ($201.1 billion) and Invoice Gates ($139.1 billion). 

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