Home Sectors AUTOMOBILE Elon Musk Sells $5bn Of Tesla Stock After Twitter Poll

Elon Musk Sells $5bn Of Tesla Stock After Twitter Poll

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Tesla Inc. Chief Executive Officer, Elon Musk, has traded about $5 billion worth of Tesla’s shares a few days after he polled Twitter users about selling 10 percent of his stake in the company.

The sales totaled about 3 percent of Musk’s equity in the company.

In regulatory filings issued on Wednesday, Musk has sold off over 4.5 million shares this week, the first since 2016.

The world’s richest man traded about $1.1 billion worth of stock to offset income taxes on equity options that he also exercised that day, two of the filings showed.

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The deals were made following a pre-arranged trading plan adopted in mid-September.

Musk carried out the remaining sales on Tuesday and Wednesday, offsetting about 3.6 million shares valued at around $4 billion. The filings showed those disposals didn’t indicate that they were pre-planned.

On Saturday, Musk asked Twitter users in a poll if he should trade 10 percent of his equity in Tesla.

The poll drew over 3.5 million votes, of which 58 percent of the voters were in support of the sale.


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