Tesla CEO Elon Musk is making further progress with his sale of shares in his group. The entrepreneur again sold shares in the e-car manufacturer, according to a mandatory notification to the US Securities and Exchange Commission (SEC). Accordingly, Musk parted with more than 583,600 Tesla shares for 528 million US dollars (about 468 million euros). The billionaire has now monetized around 13.5 million Tesla shares worth a good 14.1 billion dollars (12.5 billion euros).
Musk had promised at the beginning of November via a vote on the platform Twitter the sale of a tenth of his shares in the electric car manufacturer. Since then, he had sold papers several times on a large scale. In order to fully fulfill the commitment, around 3.5 million shares are missing, from which the Tesla boss has yet to part with.
Musk had Twitter users vote on whether to part with ten percent of his Tesla shares in order to pay more taxes. 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 more than a fifth of its value. Currently, the annual growth is still at 33 percent.
Musk’s fortune shrinks
The fortune of the Tesla boss has also shrunk due to the price drop in recent weeks. According to Bloomberg calculations, it is around 245 billion dollars, in mid-December it was still about nine billion dollars more. Musk’s wealth is largely based on equity holdings, which are only taxed on a sale. In a Twitter message over the weekend, Musk had announced that he was expected to pay more than $11 billion in taxes this year.
Musk’s share of the electric car maker remains at over 17 percent despite sales. The head of the VW rival always obtains new securities through a stock option program. On the other hand, he does not receive a salary for the management of the company, according to his own statement. (dpa-AFX/gem)
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From the data center:
New registrations of Tesla models in Germany from 2016 to 2021
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