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Billionaire Elon Musk

Elon Musk sells nearly 5 billion of Tesla shares this week

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(California) – The LEK Reports – The worlds richest man and the genius creator of SpaceX and Chief engineer of Tesla has sold 1.1 billion shares worth of Tesla, and just now sold 3.59 million dollars of Tesla shares worth 4 billion dollars. The billionaire has created a twitter poll which stated that he will sell 10% of his tesla shares if the majority whom vote decide so due to a new Tax law by the United States Congress. Musk said “Much is made lately of unrealized gains being a means of tax avoidance, so i propose selling 10% of my Tesla stock, Do you support this?.”

He later replied to the tweet and said “I will abide by the results of this poll, whichever way it goes.”

According to Bloomberg Billionaire index Elon Musk is worth 299 Billion dollars meaning if he sold all his 10% Tesla stock right now he would loss 29 Billion dollars worth of Tesla stock shares. But in return if he keeps the money he sold and the Taxes law doesn’t effect him he would have 29 billion dollars in his bank account. Elon hasn’t sold Tesla stock since 2016, 5 years after this sell. Elon Musk Tesla career is coming to an end in the coming decades and moving towards SpaceX and his recent Crew-3 successful falcon-9 Dragon launch today is a testimony to that. Elon Musk is selling his shares to cover the government expensive bills and that shows the U.S governments resources of money ending and passing laws that even impact the stock market and unrealized value of a persons wealth.

By Senior Editor and the Founder of The LEK Reports

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