Why is Elon Musk selling stock?
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Why is Elon Musk selling stock?
It was a case of the internet doing, well, internet things. The only thing that happened was Musk sold more stock as part of a prearranged plan to exercise expiring management stock options. The Securities and Exchange Commission filings detailing the sales were released at roughly 8:20 p.m. Eastern time.
Over the five-and-a-half weeks since the Twitter poll, the outspoken, often outlandish, and meme market favorite Musk has sold nearly 12 million shares of his electric vehicle company for a total of $12.7 billion, according to data from InsiderScore/Verity that was provided to Fortune.
Is Elon Musk selling Tesla?
Elon Musk has been selling millions of Tesla shares. He then sold another 934,091 shares to pay taxes. That makes sense because management stock options gains are taxed like regular income when they are exercised. Investors are aware that Musk is exercising, but the pace has been agonizingly slow.
How many cars Tesla make per year?
Tesla has confirmed that it has achieved an annual run rate of 1 million electric cars per year at the end of last quarter. After Tesla reported production of 237,823 vehicles and the delivery of 241,300 vehicles last quarter, we declared that Tesla has basically achieved a run rate of 1 million vehicles.
The revelation adds to the stakes of the trial. If the jury levels a large judgment against Musk, he may have to sell part of his stake in Tesla or SpaceX, a move he has historically avoided. (Another possibility: He could borrow more money, using his shares as collateral.)
Did Elon Musk sell two of his Los Angeles mansions for $30 million?
The tweet about Tesla’s stock price caused the stock to instantly drop around 10\%. Then, three days later, CNBC reported that “two of Elon Musk’s Los Angeles mansions appear to be up for sale on property website Zillow for $30 million and $9.5 million.”
How much debt does Elon Musk have?
More important, Musk, 48, owes more than $500 million in debts, according to financial documents published earlier this year. That includes $208.9 million in liabilities owed to Morgan Stanley and $213 million borrowed from an affiliate of Goldman Sachs. Musk has pledged nearly half of his Tesla stake as collateral for those loans.
Is Elon Musk a cryptocurrency user?
Musk seems to be a fan of cryptocurrency, and has several times in the past talked about crypto in tweets and interviews.