Elon Musk Follows Twitter Poll, Sells Tesla Shares Worth More Than $6.9 Billion
New Delhi, 15th November 2021: Elon Musk, the CEO of US automaker Tesla, released a poll on social media some time ago to sell Tesla’s stock. In which he said that if the people would vote ‘yes’ he would sell some shares of Tesla. Following his poll, Musk has sold more than $6.9 billion worth of Tesla shares, the report claimed.
Adding to that, Elon Musk has sold more than 5.1 million Tesla shares, and about 4.2 million of them are held in a trust. However, after selling these shares, Tesla’s stock price fell by 15.4 percent throughout the week.
The move came after the US electric car major touched $1 trillion in market value in October 2021. Musk sold the shares a few days after his Twitter poll. He had asked publicly on Twitter whether he should sell 10% of his Tesla stock. Musk also said that he would accept whatever the outcome of the poll was. In this poll, about 58 percent of the 3.5 million votes were in favor of selling the shares.
Elon Musk is currently the richest person in the world according to the Bloomberg Billionaires Index, with a net worth of $294 billion. Musk made the move after Democrats in the US Congress proposed a more hefty tax on the super-rich, which is usually taxed only when shares are sold. Musk’s share sale would attract at least $1.4 billion in taxes. Musk is also planning to launch his first vehicle in the Indian market soon. However, due to the import duty on EVs in India, he is demanding to reduce it. On which no decision has been taken yet.
