Tesla boss Elon Musk has sold shares in his group again

Tesla boss Elon Musk has sold shares in his group again. The entrepreneur sold a little more than 934,000 papers for 906 million US dollars, according to mandatory reports to the US Securities and Exchange Commission. This means that Musk has already sold almost twelve million Tesla shares worth a good 12.7 billion dollars (11.25 billion euros) since he sold ten percent of his 17 percent stake in a Twitter vote in early November Electric car maker agreed. Musk had Twitter users vote whether he should part with ten percent of his Tesla stake in order to pay more taxes. To achieve this goal, Musk has to sell more Tesla shares. The ten percent corresponds to around 17 million Tesla shares. Musk is Tesla's largest single shareholder. Since the 50-year-old started selling shares in early November, Tesla stock has come under pressure and has lost 21 percent in value from its November 4 high. The annual growth is currently 37 percent. The wealth of the Tesla boss is according to Bloomberg calculations at 254 billion dollars. Musk's wealth is largely based on owning stocks, which are not taxed until sold. The eccentric Musk, admired by many in the auto industry, is apparently also driven by anger over plans to tax billionaires in the US. Musk had moved from California to Texas last year, presumably for tax reasons. He announced the Twitter vote on the sale of shares with the remark that there has been a lot of talk lately about unrealized profits as a means of tax avoidance. Since he does not receive any cash wages or bonuses, selling shares is the only way for him to pay taxes. Gains in the price of stocks are taxed in the US when the papers are sold and a profit is realized. Critics complain that rich citizens can use it to build a fortune without paying taxes.