New Delhi, Tesla CEO Elon Musk sold nearly $5.5 billion in shares a few days later Entry a twitter survey in which he said He will sell 10 percent of their Tesla shares And tried to know whether people would support him on this?,
Musk created a Twitter poll on November 7. they wrote, “Having a tax evasion instrument has made a lot of unrealized gains lately, so I propose to sell 10% of my Tesla stock. Do you support that?”
Over 3.5 million people took part in the survey, of whom 58 percent supported the idea. He wrote in the same thread that he does not take cash salary or bonuses from anywhere, and only has stock, thus the only way for him to personally pay taxes is to sell the stock.
Having a tax evasion instrument has resulted in unrealized gains lately, so I propose to sell 10% of my Tesla stock.
do you support it?
— Elon Musk (@elonmusk) November 6, 2021
Musk sold $5.5 billion in Tesla shares, the billionaire reported in a Wednesday filing, the report said,
Tesla shares sale
Musk sold nearly 3.6 million shares in Tesla in his first share sale since 2016, media reports said, It is worth about $4 billion and can be considered as 10 percent of its shares. In 2016, Musk sold some of his shares to cover an income tax bill of about $600 million.
He later sold another 934,000 shares for $1.1 billion under a pre-emptive option arrangement to acquire approximately 2.2 million shares. The sale of this option arrangement was planned in September, long before the vote. Sale of option-related shares paid for associated taxes, the reports said,
Within two days of the poll’s release, Tesla shares fell about 16 percent, but recovered 4.3 percent on Wednesday. of the company Shares listed in Frankfurt 4.1 . speed of Percent 953 euros ($1,102.05) in opening trade Thursday, Reuters reported,
Musk has more than 20 million stock options in Tesla, which expires in August next year.
This week, Tesla lost nearly $150 billion in market value. Retail investors have bought many stocks. Trade orders on Fidelity’s brokerage website on Wednesday showed that 58 percent of them were for buy rather than sell.
ReTel investors net purchases of $157 million on Monday, report cited research firm Wanda Research as saying,
As part of the October rally, Tesla signed a deal to sell 100,000 vehicles to rental car company Hertz.
Tesla shares make up a substantial portion of Musk’s estimated fortune, which is worth more than $281 billion. Tesla shares are worth more than $1 trillion.
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