Two Weeks After Twitter Poll, Elon Musk Has Unloaded Billions In Tesla Stock – Forbes

On Saturday, November 6, Elon Musk logged onto his Twitter account and appeared to put a multibillion-dollar financial decision into the hands of millions of online voters. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?” he asked his followers. “I will abide by the results of this poll, whichever way it goes.” Almost 58% of respondents voted in favor of the sale.  Tesla CEO Elon Musk has sold nearly $9 billion worth of stock over the course of two wild weeks. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) AFP via Getty Images True to his word, the electric car billionaire began parting with shares just a few days later. Two weeks in, Musk has sold roughly 8.2 million shares, worth about $8.8 billion—putting billions of dollars into the famously cash-poor billionaire’s pockets, even after he used about $3 billion of the proceeds to pay taxes due from exercising some of his stock options. The sales represent 3.2% of Musk’s Tesla stake, meaning he still has 11.6 million shares—worth about $13.2 billion as of Friday’s market close—left to…
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