Infotech Elon Musk sold $ 5 billion in Tesla shares

Elon Musk sold $ 5 billion in Tesla shares

Tesla founder and chief executive Elon Musk sold around $ 5 billion in shares of the electric vehicle maker on Monday, November 8.

According to documents filed Wednesday with the US markets regulator, the SEC, the richest man in the world sold about 4.5 million shares this week. A first block worth $ 1.1 billion had been sold on Monday, in order to meet tax obligations arising from the exercise of stock options, but this sale had been launched according to a plan already prepared and implemented. foot in September clarified these documents.

The sequel after the advertisement

On Saturday, the 50-year-old carried out a poll from his Twitter account to find out whether or not he should part with 10% of his Tesla shares. Some 57.9% of the 3.5 million voters responded positively. Elon Musk is followed by 62 million people on Twitter.

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It was difficult to say on Wednesday whether the sale of an additional block of 3.6 million shares worth 4 billion Tesla shares, mentioned in the documents on Tuesday and Wednesday, had also been planned before this poll. from Twitter.

Pressure in the political debate

Monday, at the opening of Wall Street, the title had plummeted, dropping up to 7.2% while the market feared that the hot boss would run and unbalance, on his own, the supply and demand of actions of the builder.

The shares sold on Monday by Elon Musk were therefore sold at a significantly lower price than if he had sold them before his tweet but the documents also reveal that the businessman had initiated the sale on September 14 and did not was therefore not determined based on the survey.

The sequel after the advertisement

Elon Musk still owns 170.4 million shares in a trust, worth a total of $ 183 billion at Wednesday’s closing price.

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Billionaires face increased pressure in the American political debate, where they are invited to participate more in social protection. Saturday’s tweet followed a proposal by elected Democrats in Congress to target more severely stocks on the stock market, which are generally only taxed when they are sold.

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