Thursday, June 20, 2024
HomeNewsElon Musk sells $ 5 billion Tesla shares

Elon Musk sells $ 5 billion Tesla shares

Tesla chief executive Elon Musk has sold about $ 5 billion worth of shares in the electric car maker. The sale of the shares was announced by Musk, who a few days ago through a poll asked his followers if he should sell 10% of his shares in Tesla.

The company’s shares fell about 16% in two days after the poll came out in favor of selling its shares Tesla is the largest carmaker in the world, with a stock market valuation of more than $ 1 trillion.

The documents showed that the sale of about one-fifth of the shares was made on the basis of a pre-determined trading plan in September, well ahead of Musk’s posts on social media over the weekend.

However, the records also showed that the sale of the remaining shares was not planned. Musk’s decision has been widely commented on the network, where there have been rumors from some investors that he is selling the shares to clear debts. But how true such a thing is is not known exactly.

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