Musk sells Tesla shares for $ 1 billion

Status: 03.12.2021 11:24 a.m.

Tesla CEO Elon Musk has sold more of his company’s shares – valued at $ 1 billion. If you believe his announcements, more shares are likely to hit the market.

Elon Musk has once again silvered shares in his Tesla group. As emerged from a mandatory notification to the US stock exchange regulator, the head of the electric car manufacturer sold around 934,000 shares valued at one billion US dollars.

The mandatory notifications are required by law. Co-owners with a share of more than ten percent must publish every sale. Musk is Tesla’s largest single shareholder with a stake of almost a fifth.

Sales started after a Twitter vote

In November, the entrepreneur had his Twitter followers vote in a high-profile action on whether he should part with ten percent of his 21 percent stake in Tesla; there is much talk of unredeemed price gains as “means of tax avoidance”. The result was very clear: within 24 hours, 57.9 percent of the 3.5 million participants voted “Yes”.

Since then, the Tesla boss has been selling shares over and over again. With the renewed sale, Musk has now thrown a total of around ten million Tesla shares on the market – with a total value of eleven billion US dollars. If he wants to stick to the goal, he has to sell significantly more shares, a total of 17 million shares.

Musk is the richest man in the world

The Tesla boss has an estimated net worth of around 338 billion US dollars, making him the richest man in the world. The vast majority of his wealth, however, is made up of his stocks. That’s why Musk has hardly paid any taxes so far – these are only collected when the shares are sold.

Reference-www.tagesschau.de

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