{"id":16174,"date":"2021-11-11T08:49:31","date_gmt":"2021-11-11T08:49:31","guid":{"rendered":"https:\/\/errante.net\/?p=16174"},"modified":"2021-11-11T08:49:31","modified_gmt":"2021-11-11T08:49:31","slug":"elon-musk-sells-5-billion-in-tesla-shares","status":"publish","type":"post","link":"https:\/\/errante.net\/hi\/elon-musk-sells-5-billion-in-tesla-shares\/","title":{"rendered":"Elon Musk Sells $5 Billion in Tesla Shares"},"content":{"rendered":"\n
Tesla (TSLA.O) Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake.<\/p>\n\n\n\n
Tesla<\/a> is the world’s most valuable carmaker, with a stock market valuation of more than $1tn.<\/p>\n\n\n\n In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.<\/p>\n\n\n\n The 4.5 million shares equate to about 3% of his total holdings in the electric vehicle manufacturer, which makes up the vast part of his estimated $281.6 billion fortune, according to Forbes.<\/p>\n\n\n\n Musk on Saturday polled Twitter users about selling 10% of his stake<\/a>, helping to push down Tesla’s share price after a majority on Twitter said they agreed with the sale.<\/p>\n\n\n\n On Saturday, Mr. Musk posted a Twitter poll<\/a> asking his followers to vote on whether he should sell part of his stake in Tesla to meet his tax obligations.<\/p>\n\n\n\n “Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” he tweeted.<\/p>\n\n\n\n “I will abide by the results of this poll, whichever way it goes.”<\/p>\n\n\n\n The poll attracted more than 3.5 million votes, with nearly 58% voting in favour of the share sale.<\/p>\n\n\n\n The stock sank 12% on Tuesday in a multi-day selloff that endangered the company’s position in the $1 trillion club but recovered 4.3% on Wednesday.<\/p>\n\n\n\n Tesla<\/a> is currently trading 1,067.95+44.45 (+4.34%) at close: November 10 4:00PM EST.<\/p>\n\n\n\n Mr. Musk is the world’s richest person<\/a>, with a personal fortune estimated to be more than $280bn.<\/p>\n\n\n\n If you have any questions, please email our Education Centre<\/a>.<\/p>\n\n\n\n If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email support@errante.net<\/a>.<\/p>\n\n\n\n We are Errante. Trading made personal<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" Tesla (TSLA.O) Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake. Tesla is the world’s most valuable carmaker, with a stock market valuation of more than $1tn. In his first share sale since 2016, […]<\/p>\n","protected":false},"author":6,"featured_media":16185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8610,8611],"tags":[],"yoast_head":"\n