Elon Musk sells another $687 million in Tesla stock

From CNET: Elon Musk sold about $687 million worth or sold 639,737 shares of Tesla stock on Thursday, according to CNBC, which cited regulatory filings. This was on top of the $5 billion he sold earlier in the week.

Last weekend, the electric car company CEO polled his Twitter followers whether he should sell stock in order to pay his taxes. Nearly 58% of the more than 3.5 million people who voted said he should sell 10% of his stock in the company. Musk pledged to honor the poll's results.

Musk is the richest person on the planet, according to the Bloomberg Billionaires Index, with a net worth of $294 billion as of Friday.

In June, ProPublica reported that Musk and other moguls structured their pay to avoid income, allowing them to build their wealth into the billions while paying virtually no federal taxes. The activity wasn't against the law, the investigative site noted, but the IRS documents it based the reporting to reveal how the uber-wealthy minimize taxes, sometimes through loans they take out using their stock holdings as collateral.

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