Elon Musk says will sell 10 per cent of Tesla stock based on Twitter poll
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Tesla shares closed Monday down nearly 5 per cent after CEO Elon Musk said he would sell 10 per cent of his holdings in the electric carmaker — more than USD 20 billion worth by most calculations — based on the results of a poll he conducted on Twitter over the weekend. According to analyst Daniel Ives of Wedbush Securities, Musk owns about 23 per cent of Tesla's stock and has about USD 10 billion in taxes coming due on stock options that vest next summer.
Tesla shares closed Monday down nearly 5 per cent after CEO Elon Musk said he would sell 10 per cent of his holdings in the electric carmaker — more than USD 20 billion worth by most calculations — based on the results of a poll he conducted on Twitter over the weekend. According to analyst Daniel Ives of Wedbush Securities, Musk owns about 23 per cent of Tesla's stock and has about USD 10 billion in taxes coming due on stock options that vest next summer.
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