The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Elon Musk unloads $1.1 billion in Tesla stock.

3 min reading

The erratic billionaire polled his Twitter followers, although the sale was already scheduled due to tax obligations.

According to recent financial filings, Tesla CEO Elon Musk has sold more than one billion dollars worth of shares.

The sale of around 934,000 Tesla shares worth around $1.1 billion was confirmed by filings with the Securities and Exchange Commission on Nov. 11.

Musk sold the shares at an average price of $1,170, locking in about 18% price gains over the previous year. It's only Musk's third trade of Tesla stock since the company went public on the Nasdaq in 2010, and it's also his largest.

As per the filings, Musk intended to sell the stock in September to settle his tax obligations. Over the weekend, he polled his 63 million followers if they think he should sell 10% of his Tesla shares. Almost 58 percent of the 3.5 million people said yes. Tesla CEO Elon Musk, on the other hand, has sold less than 1% of his shares and still owns over 170 million shares.

He stated in response to the poll that,“I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

Tesla stock dropped 16 percent in the days following the poll, nearly falling below $1,000 on November 10. TSLA set an all-time high of $1,230 on November 4 and is currently down about 11% from that high.

In crypto circles, there has been speculation — more like hopium — that he may invest some of that cash in digital assets. Mr. Whale posted the following question to his 357,000 followers:“Which cryptocurrency should he buy to make himself the first-ever trillionaire?”

MicroStrategy CEO Michael Saylor suggested he buy more Bitcoin following the Twitter poll but before the news emerged about this sale:“If the goal is diversification, an alternate strategy to consider is converting the $TSLA balance sheet to a Bitcoin Standard and purchasing $25 billion in BTC. That would deliver diversification, inflation protection & more upside for all investors in a tax efficient manner.”

Tesla presently owns 43,200 BTC worth an estimated $2.79 billion at current pricing, according to BitcoinTreasuries.

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.