Friday, January 21, 2022

Elon Musk continues to sell Tesla Stock, selling now 60% complete

Regulatory filings on Thursday have revealed that CEO Elon Musk has sold another 934,091 Tesla shares. The sale, which was worth about $1.01 billion, effectively brings Musk to about 60% of his overall goal of selling 10% of his personal TSLA stake. The Stock price closed 1,014.97 USD on Friday Dec 03. 2021.

Musk’s massive TSLA selloff started last month, following a Twitter poll where the CEO asked users of the social media platform if he should sell a stake of his Tesla Stock. Tesla Analyst Gary Black commented on the last batch of Stock sales.

By offloading 10% of his TSLA holdings, Musk is expected to pay about $15 billion in taxes. While this has been largely ignored by the CEO’s critics, Musk has stated last month that he would like politicians such as Sanders to supply an itemized list showing exactly how the $15 billion would be spent.

With the current sales from last week he sold about 60% of the shares he intended to sell. This week should remain turbulent for Tesla Shareholders and it is expected that he will continue to sell this week.

Musk also confirmed on Twitter that he is selling his TSLA stock in such a way for maximum taxation. 

See also  Tesla has agreed to purchase ~ 42,000 tonnes of nickel from Prony Resources.
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