Elon Musk has sold $ 9 billion worth of Tesla shares in two weeks, but he is in the process of selling 10% of the shares

Elon Musk has sold $ 9 billion worth of Tesla shares in two weeks, but he is in the process of selling 10% of the shares. Elon Musk has sold $ 9 billion worth of Tesla shares in the last two weeks. Tesla's CEO is on the way to fulfilling his Twitter promise to sell 10% of his stake. After questioning sales, Musk called "Big Short" Michael Burry  a "broken watch." Elon Musk owns approximately 9 billion  Tesla shares in the last two weeks. According to a submission from the Securities and Exchange Commission show, Tesla has sold a total of 8.2 million shares with a return of $ 8.8 billion. The sale reduced automakers' stock prices by 7% and removed approximately $ 84 billion from market capitalization. 

 Despite the recent downturn, Tesla's inventories have increased 56% this year, up more than 1,300% since the beginning of last year. Musk still owns 164 million shares and owns a 17% stake in an electric vehicle company. There are several theories as to why musk is so enthusiastic about selling. For example, Tesla's boss realized last year that he had to sell his shares to cover the cost of exercising stock options that would expire next year. 

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 Musk has also been accused of not paying income tax in substance, claiming lawmakers seeking a "billionaire tax" that would hurt the unrealized profits of the ultra-rich. He quoted this conflict when he started a Twitter poll two weeks ago and asked if he should sell 10% of Tesla's stake. However, it soon became clear that Musk had already planned a deal to sell its shares, which challenged the gist of the whole scene. 

 Meanwhile, Big Short's Michael Burry claims that Musk took out a personal loan of 88 million shares in late June, and Tesla's boss may be raising cash to repay his debt. Claimed to be. 

 In another tweet, Barry described Musk's May 2020 stock price as "too high"  and said he suspected that Musk would simply sell, knowing that the company was overvalued. rice field. 

 Mask was upset by comments that the bubble was about to burst, or perhaps Barry's repeated warnings when Tesla shares dismissed investors as  "broken watches" on Twitter. 

 Tesla's boss needs to sell nearly another 9 million shares to meet its 10% commitment. With current sales, his sales will last for at least a few more weeks.

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