Elon Musk Live Updates: Tesla CEO Sells USD 5 Billion In Stock After Twitter Poll.
Tesla CEO Elon Musk sold millions of shares in the electric car company, raising more than $ 5 billion after a controversial Twitter poll about his tax bill.
Sales amount to about three percent of Musk’s stake in the company, but still, leave him as the largest shareholder in the company.
Last weekend, he said he would sell 10 percent of his stakes in the company, worth more than $ 20 billion, according to the results of a poll he conducted on Twitter.
The sell tweets sparked a panic sell-off in Tesla shares earlier this week, but it recovered slightly yesterday, with shares rising 2.6 percent to $ 1,096.
The survey raises questions about whether Musk always intended to liquidate, with tax transactions “automatically effected” in a liquidation plan already agreed in September.