Tesla boss Elon Musk is making further progress with his sale of shares in his group. The entrepreneur again sold shares in the electric car manufacturer, as emerges from a mandatory notification to the US Securities and Exchange Commission. Accordingly, Musk sold another 583,600 Tesla shares valued at $ 528 million. That corresponds to around 468 million euros. The billionaire has now cashed around 13.5 million Tesla shares worth the equivalent of a good 12.5 billion euros.
At the beginning of November, Musk agreed to sell a tenth of his shares in the electric car manufacturer via a vote on the Twitter platform. Since then he had sold papers on a large scale several times. In order to fully meet the commitment, around 3.5 million shares are missing, from which the Tesla boss has yet to part.
Musk’s fortune has shrunk
Musk had Twitter users vote whether he should part with ten percent of his Tesla shares in order to pay more taxes. The 10 percent corresponds to around 17 million Tesla shares. Musk is Tesla’s largest single shareholder. Since Musk began selling shares in early November, Tesla stock has come under pressure, losing more than a fifth in value. The annual growth rate is currently 33 percent.
—
— (–)
To the detailed view
The Tesla boss’s fortune has also shrunk in the past few weeks due to the share price fall. According to Bloomberg calculations, it is around 245 billion dollars; in mid-December it was around nine billion dollars more. Musk’s wealth is largely based on equity stakes, which are not taxed until they are sold. In a Twitter message over the weekend, Musk announced that he would be expected to pay more than $ 11 billion in taxes this year.
Musk’s stake in the electric car maker remains at over 17 percent despite the sales. The boss of the VW rival keeps getting new papers through a stock option program. However, according to his own statement, he does not receive a salary for the management of the company.
.