Taxes

Elon Musk Sells $5 Billion of Tesla Stock

Tesla shares rise in premarket trading following disclosures
Some of the transactions were arranged prior to Twitter poll

WATCH: Musk sold Tesla shares after asking his Twitter followers whether he should do so. But the filing says the sales purpose was only to meet tax obligations. Ed Ludlow reports.Source: Bloomberg

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By Anders Melin

November 10, 2021 at 6:42 PM EST

Updated on

November 11, 2021 at 4:23 PM EST

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Tesla Inc. Chief Executive Officer Elon Musk unloaded $5 billion of stock in the electric-car maker, shortly after fueling a social media debate over the tax treatment of billionaires’ shareholdings.

The world’s richest person has disposed of more than 4.5 million shares so far this week, according to regulatory filings. Those were his first sales in more than five years.

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