Elon Musk to sell $ 1.02 billion worth of Tesla shares – CVBJ

Updated on Wednesday, December 29, 2021 – 8:36 pm

Musk asked his 62.5 million Twitter followers to sell 10% of his shares.

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Entrepreneur Elon Musk has been selling in the last few days 934,090 Tesla shares, in the value of $ 1,020 million, according to the. published documents United States Securities Market Commission (SEC).

Musk, who informed his followers about it Twitter Having paid around $ 11 billion in taxes this year, he has already sold around $ 15 billion worth of shares in the electric car maker since November.

CNBC also said that Musk will have options to purchase 1.6 million shares of Tesla at a price of. has exercised $ 6.24 per share as part of a compensation package agreed in 2012. Today Tesla stock was valued at $ 1,077 per share.

The Wall Street Journal reported that Musk’s stake in Tesla is now floating around 177 million shares.Forbes estimates that Musk is the richest man in the world with an estimated fortune of $ 275 billion.

Musk isn’t paid for his role as CEO of Tesla and the aerospace company Spacex and has chosen to be compensated in shares of the two companies.

This has enabled Musk to avoid taxation on his extreme wealth, as U.S. taxpayers only pay tax on their income or when they sell stocks.

To finance his lifestyle, Musk receives loans from financial institutions that are backed by the tremendous value of his stocks. Musk is forced Liquidate 10% of its shares, which will force him to pay the $ 11,000 million in taxes to receive options on shares valued at $ 23,000 million in the coming months.

Elon Musk, Hannibal HanschkeAP

The options They expire in August 2022. If Musk had waited until 2022, he would have had to pay a higher amount of taxes.

In early November, Musk asked his 62.5 million Twitter followers to sell 10% of his shares. “There has been a lot of talk about unrealized gains to avoid taxes, so I suggest selling 10% of my Tesla shares. Do you support that? ”Musk asked.

The result of the poll conducted by Musk was an “S” majority. After completing the survey, the entrepreneur proceeded to sell $ 14 billion in stocks the company.

CNBC said it estimates Musk will have to sell another million Tesla shares to meet the 10% target.

According to the criteria of

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