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Musk is again selling Tesla shares for around half a billion dollars

Wednesday, 12/22/2021 12:01 PM from

dpa-AFX

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Tesla charging station. pixabay.com

NEW YORK (dpa-AFX) – Tesla-Chef Elon Musk is making further progress with his sale of shares in his company. The entrepreneur again sold shares in the electric car maker, as is evident from a mandatory notification to the US Securities and Exchange Commission. Accordingly, Musk sold more than 583,600 Tesla shares for 528 million US dollars (about 468 million euros). The billionaire has now cashed around 13.5 million Tesla shares worth a good 14.1 billion dollars (dollar rate) (12.5 billion euros).

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.

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