Tesla’s big sale continues as enigmatic CEO Elon Musk transfers another billion dollars of company stock.
Elon Musk sold an additional 934,091 shares for $ 1.05 billion, according to regulatory filings with the U.S. Securities and Exchange Commission on November 23.
The billionaire CEO also exercised 2.15 million stock options according to reports, and the sales were made to cover taxes. Musk has now transferred around 9.2 million shares and raised around $ 9.9 billion in proceeds.
November 7 Musk interrogates his 64 million followers on Twitter offer him to sell 10% of his share. Just under 58% of the 3.5 million people surveyed said it should sell. To reach that threshold, Musk would have to sell about 17 million shares, or about 1.7% of the company’s outstanding shares. It has currently unloaded more than half of the 10% offered.
Responding to the poll at the time, he commented, “I don’t take any cash wages or bonuses from anywhere. I only have stocks, so the only way I can personally pay taxes is to sell stocks.
TSLA stock slides
Tesla stock fell 5.5% on Tuesday, from about $ 1,170 to $ 1,109, then a little further to $ 1,101 in after-hours trading, according to MarketWatch. TSLA stock hit an all-time high of $ 1,230 on November 4, and is currently about 10.5% down from that high.
Craig Erlam, Senior Market Economist at OANDA, said: “There is still a lot of buying interest because I still think investors ultimately see this as a phase and see withdrawals as an opportunity. “
Musk, who opposes any strict crypto regulations, has made no other effort to buy more bitcoin. According to BitcoinTreasuries, Tesla currently holds 43,200 BTC worth an estimated $ 2.45 billion at current prices. The company made nearly $ 1 billion in profits from its initial purchases of BTC earlier this year.
Fight with Binance
The outspoken entrepreneur has embarked on a war of words on Twitter with Binance boss Changpeng Zhao. November 23 Musk wrote:
“Hey @cz_binance, what’s going on with your Doge customers?” It seems fishy.
Binance suspended Dogecoin withdrawals on November 11 due to an issue during an update. Apparently, CZ didn’t like being called “sleazy” and responded with “Well, I don’t mean to be sassy on Twitter … In his tweet he said I’m fishy”, before stating:
“I’m not aggressive by nature, but neither am I submissive or cowardly when it comes to defending our business. I see the defense of Binance as my job and the defense… of the crypto industry as my life’s mission.
“I’m not against him personally,” CZ added with reference to Musk, before clarifying, “I don’t take it personally. I think it’s like a friendly joke and it gives the Twitter community a bit of fun. . “
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