Elon Musk announced that he had sold 10% of his share in Tesla, as promised. The billionaire earned about $14.1 billion and will give half of it to the state to pay taxes. This is reported by RBC.
The richest businessman in the world, Elon Musk, said that he sold 10% of his stake in the company. Over the past few weeks, he has cashed in about $14.1 billion for the stock.
Musk ended the sale
Tesla CEO Elon Musk has said he has sold off “enough stock” to carry out his plan to reduce his stake in the world’s most expensive car company by 10%. Against the background of the statements of the head of the company, Tesla shares rose by 2.4% to $961.3 per share in previous trading on the NASDAQ exchange.
Elon Musk has been selling Tesla shares since the beginning of November. On November 6, he said he was considering selling his 10% stake in the company. Musk asked his followers on Twitter if he should sell the stock and said he would get rid of the shares if the users of the social network agreed with such a decision. More than half of the voting participants were in favor of selling shares. From November 8, Musk began selling the papers he owns. Since then, Tesla shares have lost about a quarter of their value.
Tesla’s capitalization fell below $1 trillion after Musk sold shares.
How much did the billionaire earn
On Tuesday, December 21, Musk sold another 583,000 Tesla shares. As a result, according to Bloomberg estimates, the total number of securities he sold was 13.5 million, or about 80% of what he planned to sell (about 17 million shares). Musk received about $14.1 billion from the sale of shares.
According to Musk, he needed to exercise stock options “in spite of everything.” Of the 13.5 million shares sold, the money from the sale of 8.06 million papers will be used to pay taxes, Reuters writes. Earlier, Musk said that in 2021 he will pay taxes in the amount of $11 billion.
