Elon Musk just sold his Tesla stake for $6.9 billion, or about Rs. 51,289 crores. On November 7, 2021, the world’s richest man parted with Tesla stocks after conducting a Twitter vote.
Musk polled his audience to see if they supported him selling a 10% interest in Tesla. Furthermore, Tesla’s CEO stated that he will follow the poll’s results “either way it goes.”
Musk’s Twitter poll had about three and a half million responses, with around 57.9% of Musk selling his stocks. He further notes in the following tweet that he does not receive a cash income or bonus from anyone, that he only owns shares, and that selling his assets is the only method to pay taxes.
It’s worth noting that Musk’s stock transaction was his first in five years. Taxes are estimated to be around $15 billion, according to us.
Elon Musk, Tesla’s largest shareholder, has sold 6.36 million shares so far this week. However, Musk still has to sell roughly 10 million more shares to divest 10% of his position, to about 17 million shares. That also means that the world’s wealthy individual owns around 170 million Tesla shares.
Elon has already received the approval of over 1.5 million people on Twitter through his poll.
Tesla’s value plunged more than 15% this week as Elon sold his stake, resulting in a loss of more than $180 billion, or nearly Rs. 13,38,210 crores.
Despite the substantial drop in Tesla’s stock price, the firm remains the most valuable automaker on the planet. Elon had 23 percent of Tesla’s equity before selling it.
These equities have a long history, dating back to 2012 when Musk offered $6.24 per share. Because these equities will expire next year, Elon will have to sell them.
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