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Tesla’s Musk sells more stocks worth $687 mn

21:02, 12 November 2021
Tesla’s Musk sells more stocks worth $687 mn Photo: Kim Shiflett/Global Look Press

The CEO of Tesla Elon Musk sold additional $687 million worth of Tesla’s stocks as the company’s shares dropped by almost 3% and nearly 15% if looking at the week to date graph.

Several days before he sold $5 billion worth of stocks. 

The sellout comes after Musk asked his followers on Twitter in a poll whether he should sell 10% of his Tesla stock.

About 58% of users voted for and Musk followed the lead.

The stock price reacted negatively to the voting results. 

Part of the money received from the sale of the stocks was used to pay tax obligations.

Despite the massive drop in Musk’s stake at Tesla he is the the owner of over 167 million shares of Tesla.

Earlier, Must became involved in an internet scandal when the UN food scarcity organization said that 2% of Musk’s wealth could solve the world hunger problem to which he responded that he is down to donating the amount if someone presents him a detailed plan on how everything will work out.