Elon Musk suggests he’s finished selling stocks and the stock price is going up

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If you haven’t heard it already, Tesla and SpaceX CEO Elon Musk was recently interviewed by The Bee of Babylon. Musk occasionally shares the work of the satirical post on Twitter. For those who haven’t watched the interview, it’s fun, funny, full of interesting tunes, and arguably worth watching whether you’re a Musk fan or not.

Musk sold stocks in order to pay taxes on the options he exercises. He took to Twitter some time ago to ask his followers if he should sell 10% of his shares, although it appears he already has a plan in place to do so. Since then, Musk has been selling weekly, and the Tesla share price has fallen.

During the recent interview, Musk said he sold enough shares. He did not say he was done selling and he did not reveal exactly how much he sold, but did lead to believe that he would not sell more in the short term.

People can easily look at the records or follow those “in the know” on Twitter to find out how many shares Musk has sold. Even if it is not yet at the 10% that he mentioned previously, it is getting closer. Musk also recently tweeted that he would pay more than $ 11 billion in taxes for 2021, which would be a record for any taxpayer in U.S. history.

In the interview with The Babylon Bee, Musk said:

“I sold enough stocks to hit about 10% plus option exercises and tried to be extremely literal here.”

According to Electrek, Musk recently exercised an additional 2 million options, which works out to about $ 1.9 billion, and sold about 584,000 of the shares.

The post goes on to say that the CEO has sold 13.5 million Tesla shares since the infamous Twitter poll. At the same time, Musk exercised 16.4 million Tesla stock options promised to him under a previous CEO compensation deal. As we’ve reported in the past, Musk buys more stocks than he sells.

We’re not financial experts at InsideEVs, and it’s not something we really follow or fully understand. Please feel free to give your opinion in the comments section below.


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