Musk is again selling Tesla shares for around half a billion dollars
Tesla charging station. pixabay.com
NEW YORK (dpa-AFX) – Tesla
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 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.
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
|Short-term position in Tesla|
|with moderate leverage|
HSBC Trinkaus & Burkhardt AG
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