8 minutes agoElon Musk sells $5 billion in shares after Twitter surveys
Periskopi(5 years ago)
(5 years ago)Tesla's chief executive, Elon Musk, has sold about $5 billion in shares in the car manufacturer. This comes days after he asked 63 million of his Twitter followers if he should sell 10% of his shares in Tesla. Company shares dropped by about 16% in two days after [...]
This comes days after he asked 63 million of his Twitter followers if he should sell 10% of his shares in Tesla.
The company's shares dropped by about 16% in the two days after the survey came in favour of selling its shares before regaining ground Wednesday.
Tesla is the most valuable car manufacturer in the world, with a scholarship rating of over $1 trillion.
Musk sold almost 3.6 million shares in Tesla, worth about $4 billion.
He also sold another 9344,000 shares for about $1.1 billion after exercising options to buy an estimated 2.2 million shares, according to files with the US stock market regulator.
The documents showed that the sale of about a fifth of the shares was made under a pre-designed trade plan created in September, well ahead of Musk's posts in social media at the weekend for selling some of his shares.
