Elon Musk on Wednesday said that he was 'almost done' with selling Tesla's stocks. The Tesla founder has sold more than $15 billion worth of shares of his electric car marker company and was on a selling spree since early November. He has sold more than three-quarters of Tesla's shares after his Twitter followers replied 'yes' to the poll where he asked them if he should offload 10% of his Tesla stake. However, Musk is yet to provide clarity on whether he has accomplished his stated goal of selling 10 per cent of his Tesla shares.
Key Points:
1. "I sold enough stock to get to around 10 per cent plus the option exercise stuff and I tried to be extremely literal here," the Tesla founder said in an interview on Tuesday with conservative satirical website Babylon Bee.
2. "This assumes completion of the 10b sale," Musk wrote on Twitter the next day. "There are still a few tranches left, but almost done," he added. His tweet on Wednesday indicated that he might not have completed the stock sales worth 10 billion.
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3. Musk had sold his second batch of 934,091 Tesla stocks worth around 14.77 million earlier this month on Wednesday. Musk has so far sold 12.9 million shares for $13.6 billion while exercising 17 million of the derivatives. Tesla's stocks have also witnessed a 25% drop since November 4.
4. The Tesla owner has also said that he would pay more than $11 billion in taxes this year. Earlier in October, Musk owned Tesla's market valuation rose above $1 trillion dollars.
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5. On November 6 this year, Elon Musk had asked his Twitter followers whether he should offload 10% of his Tesla stake. The majority of Musk's followers had voted 'yes' and he is keeping his word as he continues selling his stocks.
