Elon Musk Sells $1.1 Billion Tesla Shares To Pay Taxes After Twitter Poll

  • Posted on November 11, 2021
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  • By FC Team
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The world's richest man sold about 900,000 shares of his company Tesla after asking Twitter followers whether he should sell 10% of his stocks. But documents showed the sale was put in motion much before the poll.Elon Musk on Wednesday sold about 900,000 shares of the electric carmaker's stock, netting over $1.1 billion (€960 million), to pay tax obligations for stock options.He conducted a poll on Twitter asking users whether he should sell 10% of his stocks, saying he would follow the results of the poll. Following the survey, Tesla's share price plunged Monday, meaning the 50-year-old Musk sold his stock at a lower price than if he had sold it before his tweet, losing tens of millions of dollars in unrealized profit.Musk still owns 170 million Tesla shares after the transactions. dn.com

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