June 24, 2024

Elon Musk sells $1.1 billion in shares after Twitter poll

2 min read
Elon Musk sells $1.1 billion in shares after Twitter poll

A few days ago, Tesla CEO Elon Musk held a party Twitter poll To determine whether to sell 10% of its shares to pay taxes. It didn’t take long for users of the social network to decide which stocks to sell, and he ended up accepting the decision.

Last Monday (8), after nearly 58% of users voted in favor of the decision, the billionaire sold about $1.1 billion worth of shares. Tesla. According to filings with the US Securities and Exchange Commission, 934,000 shares of Tesla were sold at an average price of $1,170 per share — an increase of 180% over the same period last year.

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Despite a Twitter poll, documents revealed that Musk was already planning to sell the shares as part of his tax obligations. And instead of selling 10%, he sold only 1% of the shares – the billionaire still owns 170 million shares.

“I don’t get cash payments or bonuses from anywhere. I only own the shares, so the only way to pay taxes in person is to sell the shares,” Musk said.

After searching on Twitter, the value of Tesla’s assets decreased 16%Just days after the company hit a record high of $1,230 per share. Meanwhile, many fans would like Elon Musk to invest some of this money in Bitcoin, because he is Enthusiastic about cryptocurrency Tesla currently owns more than 43,000 bitcoins, or about $2.79 billion.

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