Elon Musk Sold $5 Billion In Tesla Stock This Week As Shares Plunged Following Twitter Poll

Tesla CEO Elon Musk, the world’s richest man, sold a large number of shares this week. This is to help pay taxes on options that were accepted almost 10 years ago. Unusual sale in response to millionaire tax proposal discussed last month in Washington, DC

In two offerings released late Wednesday by the Securities and Exchange Commission, Musk on Monday dumped about $2.2 billion worth of about $2.2 billion of stock for about $13.4 million for more than $1.1 billion. He announced that he had sold about 934,000 shares.

A series of documents released late Wednesday showed that Musk sold an additional 3.6 million shares over the next two days for an average price of around $10.70.

The sale came after Saturday’s masks were called. In response to a near-term law to tax unrealized gains from millionaire stock, should Twitter users sell 10% of the roughly 23% Tesla stock to limit tax evasion for the very rich? Help assess.

Consumers overwhelmingly voted to sell Musk, but a footnote to a regulatory document on Wednesday released the first tranche (worth $1.1 billion) of the stock that sold on Monday and then expired. The year indicates that there are plans to present invoices for the options to be.

Together, the trades accounted for about 3% of Mask’s total shares this week. He still owns about 168 million Tesla shares.

The mask that did not immediately respond to Forbes. Requests for comment sell shares for an average price of around $1,070. This warranted a nearly 160% price increase last year, but was 13% below Thursday’s all-time high.

It’s the third time Musk has sold Tesla shares since going public on the Nasdaq in 2010, and it’s by far his biggest deal. In July 2010, Musk sold more than 1.4 million shares for $24 million and in 2016 another 2.7 million shares for about $593 million.