Billionaire Elon Musk has stepped up sales of Tesla shares following a Twitter poll last month. Let’s see why in all the details.
Tesla: Elon Musk continues to drop down the stack and title on Wall Street
According to Bloomberg rankings, the world’s richest man has downloaded 934,091 shares worth about $ 906.5 million to offset fitness taxes on 2.1 million options, according to regulatory documents filed Monday.
Since Twitter pledged to remove its 10% stake in Tesla, Musk has already sold nearly 12 million shares, which would be about 17 million shares regardless of his practical options.
In September, Elon Musk said he would use a large number of options by the end of this year. The South African billionaire began selling shares on November 6, 2021, after asking his Twitter followers if he wanted to sell part of his Tesla estate.
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The answer is “yes” and its sale started next Monday. He disposed of $ 12.7 billion worth of shares, including exactly 934,091 shares in each of his last six sales, and used nearly 15 million options.
Since then, Tesla’s stock has lost 21% from its record high on November 4, 2021, reducing its profits to 37% this year. The South African billionaire, who was named Time Magazine’s Person of the Year by the Bloomberg Billionaires Index, amassed nearly $ 98 billion in wealth in 2021 and is now worth $ 253.6 billion.
Beatrice Ashford is a contributor at Nintendo-power.com, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the world around them.