Elon Musk continues to sell 10% of his Tesla stake. At the moment, he is almost halfway to his goal. On Monday, a $ 930 million block of shares was sold, and the head of the company gained another $ 973 million from the sale of shares on Tuesday.
In total, since November 8, Mr. Musk has sold about 8.16 million shares worth $ 8.8 billion. Recall that the head of Tesla arranged a vote on Twitter, inviting readers to answer the question whether he should sell 10% of his stake in the company in order to pay taxes. Social network users answered in the affirmative , although the plan for the sale of assets was drawn up back in September , that is, almost two months before the vote.
Assuming Musk really intends to sell 10% of his shares, then he is almost halfway there. Before the sale began, 10% of his stake was 17 million shares, so after the sale of assets on Tuesday, he was left with about 8.84 million shares. Musk, the richest man in the world, has millions of stock options that he needs to exercise by August 2022, and he needs to pay about $ 15 billion in taxes for these options. For this reason, he decided to sell part of his assets in the 4th quarter.
Tesla shares halted their plunge on Tuesday, surging roughly 4% after steadily declining more than 17% since the Musk sell-off began on November 8. Over the past 12 months, the company's shares have risen in price by 139%.
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