- However, according to the documents filed on Wednesday, the sale is unrelated to Elon Musk’s tweet last Saturday asking his Twitter followers if he should sell 10% of his shares
California: Elon Musk, the CEO of Tesla, sold $1.1 billion shares of the electric car company. The sale on Wednesday came shortly after he had indicated he would sell off 10 per cent of his stocks following a Twitter poll.
Amid the buzz that Musk made the decision on the basis of the Twitter poll results, it has emerged that the sale had been initiated on September 14, according to the documents filed on Wednesday. Thus, both of these were unrelated.
Musk has over 62 million followers on Twitter. On Saturday, he asked them if he should sell 10 per cent of his Tesla shares. He said he would abide by the voters’ opinion. The majority voted ‘yes’.
However, according to the filing, the objective behind selling the stocks was “solely to satisfy tax withholding obligations related to the exercise of stock options”.
Following the polls, the shares of Tesla fell on Monday. Thus, Elon Musk sold the shares at a much lower price.
Elon Musk’s net worth is estimated to be nearly $300 billion, which makes him the richest person in the world.
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