Elon Musk Sells $1.1 billion of Tesla Stock After Twitter Poll

New Delhi: Elon Musk, the richest man in the world and owner of electric car company Tesla, has sold 9,34,000 shares of his company worth 1.1 billion dollars.

Notably, on November 7, the Tesla Chief posted a poll to his Twitter followers asking them if he should sell 10 percent of Tesla's stock? Along with this poll, he also wrote that he does not take salary or bonus. He only has stocks. So the only way for him to personally pay the taxes is by selling the stock. He asserted that he would follow the results of this poll, no matter what.

On this, 57.9 percent of the followers said 'yes', while 42.1 percent said that they should not sell their shares.

According to the filing, Musk sold these shares to pay taxes. The proceeds of the stock sale were declared on 10 November 2021 in several regulatory filings. The amount which received from selling these shares will be used to cover tax obligations.

The founders of Tesla and SpaceX exercised stock options to buy 2.1 million shares of the company at $6.24 each.

On Wednesday, the company's stock closed at $1,067.95. Musk still owns about 170 million Tesla shares. Reportedly, Musk has the largest stake in Tesla. He held around 17 per cent stake in the company till June.

According to the Bloomberg Billionaires Index, Jeff Bezos and Bernard Arnault are currently the second and third richest people in the world. Their assets are $193 billion and $163 billion respectively.

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