The Tesla and SpeceX CEO, Elon Musk has sold approximately $1.1 billion of his holdings in Tesla
Last week Musk asked his Twitter followers, if he should sell of 10% of his Tesla stock. About 57% of the respondents said he should.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10 percent of my Tesla stock. Do you support this,” he tweeted
According to new financial filings, it seems he heeded to that, by selling $1.1billion of his stock.
To fully fulfil his promise, he would have to unload about $20 billion of his stock, as $1.1 billion sale off is still infinitesimal.
Musk said the sale was a way to pay taxes, but analysts say he he'd have heavy tax indebtedness on the stock, if he refuses to sell.
What will interest Tesla investors now, is how this would impact the companies stock price.