On November 6, Elon Musk posted a poll on his personal Twitter account asking his followers if they thought he should sell 10% of their shares in the company. The billionaire promised that he would comply with the results that came out. The majority voted in favor of the proposal and since then it has been shedding its shares.
Steve Jurvetson Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?– Elon Musk (@elonmusk) November 6, 2021
This Monday it was reported that the founder of Tesla and SpaceX sold a package of his shares again. In total there were 934,091 shares, which have a value of 906.5 million dollars. Adding that up, since the beginning of November Musk has sold a total of $ 13 billion worth of stock. It is estimated that these sales could reach a total of 18 billion by the end of the year.
Its purpose is to pay taxes related to the execution of purchase options. The United States Government announced that it was going to collect a tax from billionaires so that their money could also be used for social assistance and security in the country. They consulted 3.5 million US citizens, of which 57.9% voted in favor. It was there that the richest man in the world began to ditch his stocks.
https://www.entrepreneur.com/article/402661