The eccentric billionaire polled his Twitter followers but already had the sale planned due to tax obligations.
Tesla CEO Elon Musk has offloaded over one billion dollars value of shares consistent with recent money filings.
Filings submitted on November. 11 to the Securities and Exchange Commission make sure the sale of over 934,000 Tesla shares value around $1.1 billion.
Musk sold-out the shares at a median value of around $1,170, protection in virtually 180% in gains in costs over the past year. it's simply the third time Musk has sold-out company stock since Tesla went public on the information system in 2010, and it's his largest dealings.
The filings show that Musk planned to sell the stock as a part of his tax obligations back in Sept. He polled his 63 million followers at the weekend, asking whether or not he ought to sell 10% of his Tesla holdings. Of the 3.5 million respondents, virtually 58 said affirmative. but the Tesla CEO has sold-out but 1 Chronicles during this sale and still holds over 170 million shares.
In response to the poll, he noted “I don't take a money pay or bonus from anyplace. I solely have stock, so the sole manner on behalf of me to pay taxes in person is to sell stock.”
In the days following the poll, Tesla stock slouched 16 PF to dip below $1,000 concisely on November. 10. TSLA had hit an uncomparable high of $1,230 on Nov. four and it's presently around 11% down from that peak.
( Martin Young, Cointelegraph, 2021 )