Tesla CEO Elon Musk Approximately 5.1 million shares have been sold this week, for a total of approximately US$5.69 billion.
The US Securities and Exchange Commission reported that, since November 11, approximately 640,000 shares have been sold in the last two filings. Tesla Holding. At present, his sales account for only more than 3% of his shares in the car manufacturer, while his share of the company is slightly less than 17%.
As for the whereabouts of his sales income, approximately $1.1 billion will be used for the tax liability of stock options. These options were awarded to the CEO in September as part of the 2018 compensation package, which details that stock options will be available once the company reaches a certain number of financial goals. With the company now worth more than $1 trillion, these options are now available.
The SEC documents also show that Musk is considering buying more than 2.1 million shares. If acquired, the price per share of these shares would be $6.24.
The decision to sell the stock was announced in Musk Twitter Vote on this idea. After collecting the results of the polls, he said that he would sell 10% of his Tesla shares. The company’s share price has been declining throughout the week and fell another 3.5% on November 12.
The sale of Tesla shares is not the only major result of Musk’s Twitter poll. Weekly newspaper Reported before The new cryptocurrency was created based on opinion polls.During the voting process, he temporarily changed the name of his Twitter to Lorde Edge, and replied to the vote on Twitter, simply saying “Observe[n].” Both quickly became the names of cryptocurrencies.
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Wedbush analyst Daniel Ives calculated that Musk will pay more than $10 billion in taxes due to stock options vested next summer.
According to the US Securities and Exchange Commission documents and data provider FactSet, he still owns approximately 167.5 million shares.
Sales tweets triggered a massive sell-off of stocks on Monday and Tuesday.
Although the stock has fallen 16% this week, it has risen 150% in the past 12 months.
Musk is Tesla’s largest shareholder and the richest man in the world. Forbes, The net assets are approximately US$278.7 billion.
Tesla is headquartered in Palo Alto, California, although Musk has announced that the company will move its headquarters to Texas.
AP Photo/Susan Walsh, File
