Elon musk selling $23 Billion Worth of Tesla stock To pay taxes || Elon musk || Tesla stock || K Business ||

 

He said that he is ready to sell 10% of tesla stock to pay taxes. 3.5 million people voted Here. Where 58% or 2.03 million people voted for yes and 42% or 1.47 million people voted for No. He said that he will be abide by the result of this post whichever way it's goes. 

After most of the people selected yes, he said he didn't take cash and bonus from anywhere. He only have stock so This is the only way he will pay taxes. 

But this couldn't be easy. elon musk shouldn't sell Tesla stock. if he did, the price of stock will fall gradually because many people believe that elon musk himself doesn't believe in his own company he hold 20% shares and all the invester will follow him resulting in massive decrease in stock price of Tesla. For a billionaire like him, there are always legal means to avoid taxes. 

Elon musk owns 193.3 million Tesla stock. And 10% will be 19.3 million stock. Price for per stock of Tesla is 1222. If he sell 10% it will worth 23.58 billion dollars. This is more than many countrie's whole economy. 

As we say it will affect to the stock price of Tesla. Tesla stock will gonna be down in speed. No investor will be ready with this. Being CEO doesn't mean by you can sell your stock any time. If Tesla company's journal meeting will be ready with this decision. He can sell his stock. 

✍️ Article by :- Kamal Belbase 

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