The securities are worth nearly $ 5 billion
Tesla CEO Elon Musk sold shares in the company for nearly $ 5 billion. This comes after he consulted Twitter users on this topic last weekend.
“A lot has been done lately against unrealized profits as a means of tax evasion, so I propose to sell 10% of my shares to Tesla,” the billionaire wrote on the social network at the time. “Do you support that?”
A total of 57% of respondents supported this idea. And it looks like Musk has decided to listen to them.
All this comes after a huge rise in the price of Tesla shares. The value of the company has recently exceeded one trillion dollars. Of course, $ 5 billion is not nearly 10% of Elon Musk’s Tesla stake. To deliver on his promise, he will have to part with securities worth about $ 20 billion.
The entrepreneur’s claim that the sale is a way to pay taxes is subject to some skepticism. Critics say he will owe large taxes on the shares if he does not sell them, thanks to the structure of the company he runs.
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