Musk sticks to his tweets as he sells another £750m worth of Tesla stock
Musk sticks to his tweets as he sells another £750m worth of Tesla stock after online poll calls for him to flog 10% of his stake
Elon Musk has sold another £750 million worth of shares in Tesla after vowing earlier this month to flog 10 percent of his stake.
The richest man in the world has sold more than half of the shares he says he would unload in the electric car manufacturer since taking a Twitter poll.
Musk, 50, asked users on the site on Nov. 6 whether he should lose 10 percent of his stake in the group, in part to pay taxes.
Tesla boss Elon Musk (pictured) has now sold more than half of the shares he said he would unload in the electric car maker since he ran a controversial Twitter poll
He said he would “stick to the results” and a majority of respondents voted in favor of the huge sale.
To date, South African-born Musk has flogged 9.2 million shares worth around £7.5 billion in the group.
To reach the 10 percent mark, he would have to sell about 17 million shares.
Since committing to the sell-off, Tesla’s stock has been volatile — falling 16 percent immediately after the online vote.
This has also affected his fortune, which now stands at £217 billion, including his £195 billion stake in Tesla.
At its worst, Musk’s net worth fell by £37 billion in just two days. Tesla’s value briefly fell below $1 trillion during the upheaval, but is now back above that level.