After Twitter poll, Musk sells off $5 billion Tesla stock

A debate about taxes paid by the ultra-wealthy led to Tesla CEO Elon Musk selling about 4.5 million shares of his company's stock, raising about $5 billion. He did so after Twitter users voted for him to sell the stock.

By

National News

November 11, 2021 - 9:59 AM

Tesla CEO Elon Musk talks during a tour of the plant of the future foundry of the Tesla Gigafactory on Aug. 1 in Grünheide near Berlin, Germany. Photo by Patrick Pleul - Pool/Getty Images/TNS

DETROIT (AP) — After making a promise on Twitter, Tesla CEO Elon Musk has sold about 4.5 million shares of the electric car maker’s stock, raising over $5 billion.

The sales, disclosed in 10 regulatory filings late Wednesday, amount to about 3% of Musk’s stake in the company.

About $1.1 billion will go toward paying tax obligations for stock options granted to Musk in September.

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