Elon Musk dumped almost $7 billion in Tesla shares, leaving some investors wondering why. While it’s tough to say exactly why
The SEC has tight regulations on when influential people at a company can sell stock and how they should disclose their sale of any shares. These regulations usually include positions like the CEO, CFO, and members of the board of directors and are meant to minimize insider trading for individuals with advanced knowledge of upcoming affairs. This may have played a role in why Musk chose to sell his shares at this time.
It also may have related to Musk heading to trial in October. Musk may be subject to a $1 billion termination fee, at least, or to following through with the original terms of the purchase. However, his attempts to countersue over bot data could potentially help him avoid the merger and retain his $44 billion — and maybe even his termination fee.
Musk has liquidated more than $15 billion in Tesla stock this year, comparable to the amounts he has sold in recent years. Last year, Musk sold roughly $16 billion in Tesla shares afterMuch is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.In the past 12 months, Musk has sold $32 billion total in Tesla shares, and he still holds roughly 15 percent of the company’s stock. Musk’s most recent sale before this one saw him offloading $8.
It’s once again difficult to say exactly why Musk does what he does, but his positions, wealth, and overall leadership speak for themselves. And ahead of his trial with , Tesla investors seem thankful enough that Musk may have more time to focus on the automaker in the years to come.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk is reportedly considering investment in Neuralink's rival brain chip company | EngadgetElon Musk is reportedly considering investment in Neuralink's rival brain chip company
Read more »
‘The Daily Show’ and William Shatner Join Forces to Expose Elon MuskWilliam Shatner helps make the case that Elon Musk might actually be the “supervillain” his biggest detractors fear him to be in the latest installment of 'The Daily Show's' long-running “Dailyshowography” series.
Read more »
Elon Musk Is Trying to Hide His Far-Right PoliticsThe billionaire attended a fundraiser hosted by GOP House leader Kevin McCarthy the same evening McCarthy's candidate trounced Liz Cheney in a primary.
Read more »
Elon Musk says a lot of wild things — and somehow we have to believe himWhat happens when anything you hear about a person suddenly seems totally plausible?
Read more »
Stalking Celebrity Jets Became the Internet’s Pastime Thanks to @CelebJets.CelebJets become a phenomenon as fans used it to keep an eye on celebs (and on the carbon-dioxide emissions of their planes). lilkittypaw spoke with creator JxckSweeney about the power of public data and which celeb he'd still take a plane ride with
Read more »