Elon Musk sells another $690 million of Tesla stock after dumping $5 billion following Twitter poll
- Elon Musk sold $690 million more Tesla stock on Thursday, according to filings released on Friday.
- It comes after he asked Twitter whether he should sell 10% of his stake in the $1 trillion company.
- Musk sold around $5 billion of stock earlier in the week, in part to pay taxes on equity options.
- For more stories go to www.BusinessInsider.co.za.
Elon Musk has sold another $690 million of Tesla stock, filings showed on Friday, days after asking his Twitter followers whether he should sell 10% of his holding in the electric carmaker.
Earlier in the week, filings showed Musk had sold around $5 billion of Tesla stock, in part to pay taxes on equity options.
On Friday, SEC filings showed that Musk had offloaded around 640,000 shares at prices ranging from $1,056 to $1,104 on Thursday. The shares in his trust fell from 168.1 million to below 167.5 million.
The sales came just under a week after Musk posted a Twitter poll asking whether he should sell 10% of his Tesla stock. Almost 58% of respondents said he should.
Musk tweeted: "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?"
He added: "I will abide by the results of this poll, whichever way it goes."
Tesla stock has fallen from above $1,220 at the start of the week to a closing price of $1,063.51 on Thursday. The company was up 0.54% to $1,069.20 in premarket trading.
Get the best of our site emailed to you every weekday.
Go to the Business Insider front page for more stories.