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Elon Musk is selling another billion dollars in shares to Tesla

Elon Musk unloaded another $ 1.05 billion in shares of Tesla this week, with cash sales of nearly $ 10 billion this month. CNBC reported. Musk still owns 169 million shares in the company, which is currently valued at more than $ 1 trillion.

Musk has repeatedly said that he does not receive a salary in the company for the production of electric vehicles (EV), but receives shares related to the company’s performance. Some of the options expire after a certain deadline if they are not exercised and Musk has started selling this month to do so.

Earlier this month, Musk created a poll on Twitter, asking his followers if he should sell shares in Tesla and pay taxes. Nearly 58 percent of respondents said yes. According to details provided to The US Securities and Exchange Commission, the sale made yesterday, was also part of a similar agreement, which was planned in September this year.

With Tesla stock prices reaching record highs, Musk has already become the richest man on the planet. Usually these numbers are only on paper, but with the sale of his Musk shares, this assessment is realized in real conditions. Taken together, sales will bring Musk $ 9.85 billion in cash this month. CNBC reported. Musk is expected to pay more than 50 percent in taxes.

Will Musk donate to the UN call?

After the pandemic, the UN World Food Program called for one-time donations by billionaires to save over 42 million people from starvation. In response to the call, Musk asked for details on how the $ 6 billion the UN plans to raise will be spent. He even promised to sell shares in Tesla to fund the cause.

Last week, The UN provided a detailed breakdown of the planned expenditure, repeating its call for donations. Musk has been selling Tesla shares all month, but has not yet commented on whether he will contribute to the cause.





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