Elon Musk Sold $5 Billion Worth Of Stock!

Elon Musk, CEO of Tesla and SpaceX, sold $5 billion worth of stock. This is the first time such a sale has occurred since 2016.

Elon Musk sold approximately $5 billion worth of Tesla shares, according to documents released yesterday evening. Musk, who sold Tesla shares for the first time since 2016, had 166 million shares left after this sale. The said sales were made on Monday, Tuesday and Wednesday this week. A total of 4.5 million shares were sold in numerous transactions. In the statement sent by Musk to the US Securities and Exchange Commission, it was stated that the sale was made to meet tax obligations arising from stock options transactions. Tesla CEO recently made a poll for his more than 60 million followers on Twitter and asked whether to sell 10 percent of his Tesla shares. While more than 3.5 million votes were cast, 57.9 percent said ‘yes’. Musk emphasized that he would comply no matter what the result of the survey came out. After the Twitter poll, Tesla's shares tumbled more than 15 percent. Musk is the richest person in the world, with a personal fortune estimated at over $280 billion.