Twitter Pledge: Musk Has Already Sold 5.4% Of Its Shares in Tesla

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Twitter: Elon Musk appears to remain firm with his purpose, assumed from a poll of his Twitter followers, of selling 10% of his shares in Tesla. According to a report by the US Securities and Exchange Commission (SEC), only on Tuesday (23) the billionaire sold over 934,000 shares of the company for around US$ 1.05 billion, equivalent to R$ 5. 9 billion.

Since the 8th of November (the day following the poll) until now, almost 9.2 million shares were sold, reaching an approximate value of US$9.85 billion (R$55.3 billion). As Musk owned more than 170 million shares of Tesla in September, according to Bloomberg, the amount already sold represents more than half of the 17 million pledged.

When he took the Twitter survey, Elon Musk explained that because he didn’t receive a salary, the only way he could pay taxes would be to sell his shares. By doing as determined by 58% of his followers, the billionaire was taxed at $3.5 billion (£19.6 billion) according to The Wall Street Journal. In this sense, he benefited from the fall in the value of shares that occurred precisely because of the announced sale (a savings of US$ 480 million).

richest man in the world

Since it began to divest itself of part of its stake in the company, Tesla’s shares have experienced a downward movement. After hitting a record high of $1,240 on Nov. 4, the paper suffered an intraday low of up to $979 on Nov. 15. After Musk’s second onslaught yesterday (23), the stock closed at US$1,109.03.

In addition to making the American billionaire finally start paying taxes, Tesla’s shares, which were worth less than $140 before the pandemic began, have made Elon Musk the richest man on the planet, with a fortune estimated at $289 .7 billion.