Tesla CEO Elon Musk has again sold off shares of his company. The entrepreneur sold just over 934,000 securities for $906 million, according to mandatory notices to the U.S. Securities and Exchange Commission on Tuesday night. Musk has already silvered a total of almost 12 million Tesla shares worth a good 12.7 billion dollars (11.25 billion euros) since he pledged to sell ten percent of his 17 percent stake in the electric car manufacturer at the beginning of November in the course of a Twitter vote.
Musk had Twitter users vote on whether to part with ten percent of his Tesla stake in order to pay more taxes. To achieve this goal, however, Musk still has to sell off more Tesla shares. The 10 percent corresponds to around 17 million Tesla shares. Musk is Tesla’s largest single shareholder. Since Musk began selling shares in early November, Tesla stock has come under pressure, losing 21 percent from its November 4 high. Currently, the annual growth is 37 percent.
He owns nearly $254 billion
The fortune of the Tesla boss is according to Bloomberg calculations at 254 billion dollars. Musk’s wealth is largely based on equity holdings, which are only taxed on a sale. (dpa-AFX/gem)
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