• Latest
  • Trending
Twitter Users call on Elon Musk to sell 10% Tesla stocks To Pay Taxes

Elon Musk sells $5bn of Tesla shares days after Twitter poll

how-to-start-business-in-nigeria

How to Start a Business in Nigeria With Little Capital

Peter-Odili-Biography

Peter Odili Biography, Life And Career

how-to-join-a-sports-club-in-nigeria

How to Join a Sports Club in Nigeria

Police-Arrest-Two-Over-Motorcycle-Theft-in-Ogun

Police Arrest Two Over Motorcycle Theft in Ogun

Nigerian-Wedding-Planning-Tips

Nigerian Wedding Planning Tips 

  • Live TV
  • Live Radio
  • Live Service
  • Music
    • Naija Music (mp3)
    • Naija Music Videos (mp4)
    • Naija Gospel Music (mp3)
    • Naija Gospel Music Videos (mp4)
Saturday, June 14, 2025
  • Login
LiveFromNaija!
  • Home
  • Blog
  • Live Radio
  • Live TV
  • Live Church
  • Live Streaming
  • Contact Us
No Result
View All Result
  • Home
  • Blog
  • Live Radio
  • Live TV
  • Live Church
  • Live Streaming
  • Contact Us
No Result
View All Result
LiveFromNaija!
No Result
View All Result

Home » Elon Musk sells $5bn of Tesla shares days after Twitter poll

Elon Musk sells $5bn of Tesla shares days after Twitter poll

by LiveFromNaija News
November 11, 2021
in Finance, Foreign
0
Twitter Users call on Elon Musk to sell 10% Tesla stocks To Pay Taxes
194
SHARES
1.5k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Elon Musk, the world’s richest man and Tesla CEO, has sold shares worth $5 billion, just days after launching a Twitter poll asking if he should sell 10% of his massive interest in the electric carmaker, in which millions voted.

According to regulatory papers submitted on Wednesday, the billionaire, who has a net worth of over $300 billion, sold 4.5 million shares this week.

The company’s stock dropped by about 16 percent in two days after the survey showed that he should sell shares, before regaining some ground on Wednesday, November 10.

Musk issued a Twitter poll on Saturday, asking his fans to vote on whether he should sell a portion of his ownership in Tesla to meet his tax obligation.

“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” he tweeted.

“I will abide by the results of this poll, whichever way it goes.”

The poll received over 3.5 million votes, with roughly 58 percent in favor of the share sale.

Musk also highlighted that he is not paid in cash by Tesla: “I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

Tesla is the most valuable car company in the world, with a stock market worth of more than $1 trillion.

According to papers with the US stock market regulator, he also sold another 934,000 shares for around $1.1 billion after exercising options to buy roughly 2.2 million shares.

According to the stock sales records, nearly a fifth of the shares were sold based on a pre-arranged trading strategy established up in September, long before Musk’s weekend social media statements about selling some of his shares.

Tags: Elon MuskTesla StockTwitter

Related Posts

Nigerias-Net-Forex-Inflow-Soars-70-to-42-Billion-in-2024
Finance

Nigeria’s Net Forex Inflow Soars 70% to $42 Billion in 2024

Affiliate Marketing What it is and how to get started
Business

Affiliate Marketing: What it is and How to Get Started

Financial habits
Finance

12 Smart Financial Habits You Should Cultivate in 2022

Load More

Latest from our blog

how-to-start-business-in-nigeria

How to Start a Business in Nigeria With Little Capital

Peter-Odili-Biography

Peter Odili Biography, Life And Career

how-to-join-a-sports-club-in-nigeria

How to Join a Sports Club in Nigeria

Police-Arrest-Two-Over-Motorcycle-Theft-in-Ogun

Police Arrest Two Over Motorcycle Theft in Ogun

Nigerian-Wedding-Planning-Tips

Nigerian Wedding Planning Tips 

  • About Us
  • Contact Us
  • Privacy Policy
  • Copyright complaint
  • Latest News in Nigeria

© 2021 LiveFromNaija - All Rights Reserved. All other trademarks and copyrights are the property of their respective holders.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Blog
  • Live Radio
  • Live TV
  • Live Church
  • Live Streaming
  • Contact Us

© 2021 LiveFromNaija - All Rights Reserved. All other trademarks and copyrights are the property of their respective holders.

SUBSCRIBE TO NOTIFICATIONS

Subscribe for live stream notifications and event updates.

Thank you for subscribing!

Something went wrong.

We respect your privacy and take protecting it seriously