Elon Musk Sells $5 Billion of Tesla Stock

From PC Mag: Elon Musk has come through on a promise to sell Tesla stock if his Twitter followers told him to. As CNBC reports, Musk sold two blocks of shares yesterday worth roughly $5 billion.

The smaller of the two transactions was for more than 930,000 shares worth over $1.1 billion, but this sale has been planned since Sept. 14 (to satisfy tax obligations related to stock options). The other transaction seems to be in response to the Twitter poll and saw Musk sell more than 3.5 million shares worth over $3.88 billion.

Before the sale, Musk held around 170 million shares in Tesla, which means he is now left with around 166 million shares. Some may be disappointed in the sale, though, because the Twitter poll asked if he should sell 10% of his Tesla stock. That would mean 17 million shares need to be sold. So far, Musk has only sold around 4.5 million.

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