Elon Musk Sold $1. 1 Billion USD of Tesla Stock To Pay Taxes, Following Twitter Poll
Published
Nov 11 2021 at 3:01 AM GMT
Key
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- Following his questionable Twitter poll, Elon Musk has now sold 934,000 shares/$1.1 Billion USD of Tesla Stock to satisfy taxes from options.
- Last week, the CEO of the electric car manufacturer launched a poll on Twitter, proposing the sale of 10% of his Tesla stock.
- Receiving 58% of the 35 million votes in favor of a sale, Musk exercised 2 15 million options at a price of $6.24 per contract.
- Word of the poll made headlines plummeted Tesla's stock and effectively dropping $50 billion USD from Elon Musk's net worth.
- It is interesting to note that the contracts sold were from a stock option award Musk received in 2012 and were set to expire August 2022.
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- Published Nov 11, 2021 3:01 AM GMT