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The world’s richest person proposed the move in a tweet citing recent discussions about the ultra-wealthy hoarding unrealised gains to avoid paying taxes.The crowd-sourcing exercise is the latest example of Musk’s long history of using Twitter and his legions of fans on the platform to stoke interest in his company, sometimes pushing the envelope with tongue-in-cheek tweets.
The automaker’s stock has soared 73 per cent this year, giving it a valuation of $US1.2 trillion as of November 5. The number of shares that Musk – its chief executive officer and largest shareholder – could be set to offload is equivalent to 80 per cent of Tesla’s average daily trading volume in the past three months. The amount of stock he may potentially sell would be even greater if his options are included.
If he exercised all of the options now and immediately sold the shares, they would net him $US95.9 billion before taxes.
Kyle Rittenhouse is innocent..
You mean the Tesla shorts have spoken!