Elon Musk sells shares worth $5 billion!
Like we had predicted earlier, Musk has started selling his stocks. According to the filings, Musk sold around $5 billion dollars worth of Tesla shares on Wednesday evening. Musk still holds around 166 million shares of Tesla.
While some might argue that Musk is merely fulfilling his words to his 62.5 million Twitter followers, as he had said that their vote would determine his eventual decision whether or not to sell Tesla stocks, the filings reveal that the plan to sell some of his shares were already slated for sale.
We had speculated that Musk would sell the shares in order to satisfy his tax obligations that he would incur when he bought his stock options that will be valued at $6.25 a share. Again, keep in mind that Tesla’s share is worth more than $1000 in the market right now. To read more on this read our analysis of why we believed that Musk would be selling his shares irrespective of the Twitter poll.
