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Elon Musk, the world's richest man, sells $5 billion worth of Tesla stock in response to a Twitter poll



In response to a Twitter poll conducted last week, Elon Musk, the CEO of Tesla, has sold approximately $5 billion worth of his company's stock in the electric vehicle division.


According to documents filed with the Securities and Exchange Commission of the United States, Elon Musk's trust sold approximately 3.6 million Tesla shares valued at approximately $4 billion.


In addition, he sold an additional 934,000 shares worth approximately $1.1 billion after exercising options to purchase nearly 2.2 million shares, for a total of approximately $1.1 billion.


Elon Musk asked his 63 million Twitter followers over the weekend whether he should sell a tenth of his Tesla stake in order to fund his personal endeavors.


According to the results of the poll, 57.9 percent of respondents supported the action, while 42.1 percent opposed it.


During the two days following the Twitter poll, the stock of the electronic car division fell roughly 16 percent, before retracing its losses and gaining some ground on Wednesday.


This, on the other hand, is not surprising.


Considering Elon Musk's previous announcement that he was prepared to sell a significant portion of his company's stock on the open market, this development comes as no surprise.


Aside from that, according to the SEC filing, some of the shares that were sold had a predetermined sale date of September 14, indicating that the results of his Twitter poll were fake.


Aside from that, in a September interview with technology journalist Kara Swisher, the billionaire stated that a significant portion of his stock options will expire in August 2022 and that he intends to sell them in the fourth quarter of that year.


During the late hours of Wednesday, Mr Musk sold his shares, marking the first time he had done so since 2016, when he exercised his last stock sale option. His shares had been sold in order to pay a nearly $600 million tax bill that he was facing at the time.


Elon Musk, Tesla's CEO, has revealed that the company does not compensate him in cash: "I own stock only, and thus selling shares is the only way for me to pay personal taxes."


During his most recent stock sale transaction, he made use of stock options that he had received from the automaker as part of his 2012 compensation package.


These transactions result in the imposition of income taxes, which are typically paid out of the proceeds from the prompt sale of a portion of the newly acquired stock shares.


Tesla, with a market capitalization of more than $1 billion, continues to be the most valuable automobile manufacturer in the world.


In spite of the fact that he has an estimated personal fortune of more than $280 billion, Elon Musk remains the world's richest person.


SpaceX, which is valued at $100 billion, is controlled by Elon Musk, who continues to own 166.9 million Tesla shares and approximately 48% of the company.


Mission to the International Space Station


As for SpaceX, late Wednesday night, NASA and the commercial rocket company SpaceX successfully launched four people into low-Earth orbit.


On board were a veteran spacewalker, two younger crewmates who had been selected for future lunar missions, and a German materials scientist who was on his first spacewalk. At the moment, they are on their way to the International Space Station (ISS).


As their spacecraft travels through orbit and prepares to dock with the International Space Station (ISS), which is more than 200 miles above the Earth's surface, the astronauts will spend the next day strapped into their spacecraft.


In order to maintain a sufficient crew complement on the International Space Station, which has been in operation for 21 years, SpaceX and NASA have collaborated to launch Crew-3, the fourth joint mission between the two organizations, on a regular basis.


It has been delayed several times since the mission's scheduled launch window on Oct. 31 due to adverse weather conditions.


At the beginning of this month, NASA had to postpone a flight due to an unidentified medical issue involving an astronaut, though NASA later stated that the issue had been resolved.


The docking of the International Space Station is scheduled for Friday at 1:10 a.m. local time.

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