News Karnataka
Saturday, January 28 2023
Markets

Musk sells Tesla stock worth $6.9bn after Twitter poll troll

San Francisco: Tech billionaire Elon Musk has sold roughly $6.9 billion worth of Tesla stocks this week in one of the largest-ever stock disposals by a chief executive over a several-day period. According to a regulatory filing made public on late Friday, the Tesla CEO reported selling 1.2 million shares on Friday, worth more than $1.2 billion, reports The Wall Street Journal. Those sales came on top of more than $5.6 billion worth of stock sales earlier this week. Recently, a report said that initial filings in the US showed that Musk had sold 934,091 shares for about $1.1 billion, out of more than 2.1 million options he received as part of a compensation package. The filings that were posted later on Wednesday with the US Securities and Exchange Commission (SEC) showed that Musk sold another 3.58 million shares in Tesla. That sale was valued at about $4 billion. The world's richest man had earlier posted two of the costliest tweets in the history of Global Inc. In a tweet announcing the poll over the weekend, Musk said: "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock. "I will abide by the results of this poll, whichever way it goes." Nearly 58 per cent of Elon Musk's followers who participated in his Twitter poll told him to sell 10 per cent of his stock (worth $24 billion) in the electric car company, ostensibly to pay more tax.
Photo Credit :

San Francisco: Tech billionaire Elon Musk has sold roughly $6.9 billion worth of Tesla stocks this week in one of the largest-ever stock disposals by a chief executive over a several-day period.

According to a regulatory filing made public on late Friday, the Tesla CEO reported selling 1.2 million shares on Friday, worth more than $1.2 billion, reports The Wall Street Journal.

Those sales came on top of more than $5.6 billion worth of stock sales earlier this week.

Recently, a report said that initial filings in the US showed that Musk had sold 934,091 shares for about $1.1 billion, out of more than 2.1 million options he received as part of a compensation package.

The filings that were posted later on Wednesday with the US Securities and Exchange Commission (SEC) showed that Musk sold another 3.58 million shares in Tesla. That sale was valued at about $4 billion.

The world’s richest man had earlier posted two of the costliest tweets in the history of Global Inc.

In a tweet announcing the poll over the weekend, Musk said: “Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock.

“I will abide by the results of this poll, whichever way it goes.”

Nearly 58 per cent of Elon Musk’s followers who participated in his Twitter poll told him to sell 10 per cent of his stock (worth $24 billion) in the electric car company, ostensibly to pay more tax.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp