March 28, 2023

Dubai Week

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Tesla sells $ 5.7 billion a week

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Regulatory revelations yesterday show that Tesla CEO Elon Musk has sold a majority stake in the electric car maker.

Following his poll on Twitter, he sold about $ 5 billion worth of stock.

Musk, the world’s richest man and Tesla’s largest shareholder, said on Twitter over the weekend that he would sell 10 percent of his stake if his followers agreed to the move on social media. Musk sold $ 700 million worth of additional shares in Tesla.

And the Bloomberg News Agency announced yesterday that the billionaire had sold 639,737 shares in regulatory files, bringing this week’s total sales of Tesla to $ 5.7 billion.

“Unrealistic gains became a way to avoid taxes, so I recommended selling 10% of my Tesla shares and starting a referendum to allow users to vote on the issue,” Musk wrote on Twitter last week. Out of 3.5 million votes, 58 percent voted in favor.

Musk, 50, is the world’s richest man with a net worth of about $ 294 billion, according to the Bloomberg Billionaires Index.


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