Tesla CEO Elon Musk bought $5 billion value of inventory following a Twitter ballot

Elon Musk, the CEO of Tesla, has bought about $5 billion value of the corporate’s inventory.

It comes solely days after he requested his Twitter followers in the event that they thought he ought to promote 10% of his Tesla inventory.

Tesla is essentially the most invaluable automotive firm on this planet, with a inventory market worth of greater than $1 trillion.

Musk is the world’s richest man, with an estimated value of greater than $280 billion {dollars}. Musk has said that Tesla doesn’t pay him in money and as an alternative pays him in inventory.

His motion comes as US Democrats suggest a “billionaires tax,” during which the wealthiest individuals within the nation can be taxed on “unrealized good points” even when they don’t promote any of their shares.

Musk owned a 23 % stake in Tesla earlier than promoting a part of his shares.

The shares he bought account for round 3% of Musk’s whole Tesla holdings, nevertheless, it’s unclear whether or not the sale was tied to his weekend Twitter ballot or if he plans to promote extra shares sooner or later.

To assist him meet his tax necessities, Tesla CEO Elon Musk carried out a ballot during which he requested his followers to vote on whether or not or not he ought to promote a portion of his possession within the firm.

“A lot is made recently of unrealized good points being a way of tax avoidance, so I suggest promoting 10% of my Tesla inventory,” he tweeted. “I’ll abide by the outcomes of this ballot, whichever approach it goes.”

Greater than 3.5 million individuals voted within the survey, with roughly 58 % in favor of the inventory sale, though Musk has remained mute on any inventory gross sales for the reason that ballot.

Tesla’s inventory dropped by roughly 16 % within the two days following the ballot’s outcomes, indicating that he ought to promote his inventory.


Learn extra on Tech Gist Africa:

Elon Musk has change into the primary individual in historical past to have a internet value of greater than $300 billion

After Tesla shares slipped, Jeff Bezos overtook Elon Musk to reclaim the title of world’s richest individual

The put up Tesla CEO Elon Musk bought $5 billion value of inventory following a Twitter ballot appeared first on Techgist Africa | Africa Main Tech Information, Critiques and Suggestions.


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