Elon Musk, the great entrepreneur and innovator of our time, offered to sell more shares of Tesla after mocking US Senator Bernie Sanders on Twitter. Elon Musk offered to sell more shares of Tesla in response to US Senator Bernie Sanders’ tweet asking for the extremely wealthy to pay their fair share.
The tweet from Musk came a few days after the world’s richest person sold shares of his electric vehicle behemoth worth Rs $5 billion.
Bernie Sanders on Saturday tweeted that “We must demand that the extremely wealthy pay their fair share. Period.” To this, Musk responded: “Want me to sell more stock, Bernie? Just say the word ….”
Elon Musk – The great entrepreneur and innovator of our time
SpaceX and electric car maker Tesla are owned by Elon Musk, the charismatic co-founder and CEO of both companies. Musk studied physics at the University of Pennsylvania and then started as a serial tech entrepreneur with early successes like Zip2 and X.com. As of 2021, he is estimated to have a net worth of $151 billion, making him the second richest person in the world behind Jeff Bezos.
Elon Musk and Tesla
Tesla Motors was founded in 2004 by engineers Martin Eberhard and Marc Trepanning, where Musk was instrumental in designing the Tesla Roadster, an electric car. Tesla has become one of the world’s most popular and coveted car brands under Musk’s watch, even though Eberhard was ousted from the company in 2007. Musk took over management control of the company as CEO and product architect. Tesla produces electric vehicles as well as solar energy thanks to its acquisition of SolarCity.
What is Tesla Known for?
With a reputation as a battery company, Tesla is best known for its electric cars. The company is also known for its solar panels and lithium-ion battery energy storage products. Additionally, Tesla makes infinitely scalable clean energy generation and storage products to move toward a zero-emission future. Tesla believes that the sooner the world stops relying on fossil fuels, the better. Tesla gained attention in 2008 with the release of the Tesla Roadster, the first electric sports car. The company has more than 100 charging stations in the US and 80 stores and galleries, making Tesla more popular and successful. With its Tesla Cybertruck, Tesla Model 3, Tesla Model S, Tesla Model X, and Tesla Model Y cars, Tesla is one of the most popular automobile brands.
Elon Musk sells shares of Tesla worth around $5 billion
After conducting a Twitter poll a few days ago, Elon Musk sold $6.9 billion in Tesla shares. Nearly 58 per cent of the 3.5 million votes cast were in favour of him selling the stock. Tesla CEO Elon Musk sold 10 per cent of his huge stake in the electric carmaker days after creating a Twitter poll asking whether he should sell the stake. Millions voted. In a tweet on Saturday, Musk said: “Unrealized gains have been discussed a lot recently as a way to avoid taxes, so I propose selling 10% of my Tesla stock. Do you support this?”. More than 58 per cent of the 3.5 million votes were in favour of him proceeding with the sale.
Musk sold his Tesla stock at a significantly lower price than he would have received if he had sold before his tweet, which sent Tesla’s shares plummeting upon opening on Wall Street on Monday. Regulatory filings showed that at least some of these shares had been sold by the tech entrepreneur before the Twitter poll. As of the latest filing with the Securities and Exchange Commission, Musk still owns about 167 million Tesla shares. Musk’s stock sale will trigger capital gains taxes of at least $1.4 billion. Bloomberg’s Billionaires Index said Musk is the richest person in the world, worth $294 billion.
