Elon Musk has only sold 8% of his shares in Tesla despite promising 10%
Specifically, according to the documents sent to the United States Securities and Exchange Commission (SEC) -consulted by Europa Press- it has sold a last batch of 583,661 shares of the company worth $528 million.
In total, more than 13.46 million shares have been disposed of out of the total 170.5 million shares he owned (around 17% of the company’s capital), for a total amount of $14.1 billion. The CEO, in an interview collected by Bloomberg, stated that he has already disposed of “enough” shares to reach the goal of reducing his stake in Tesla by 10%, however, the amount declared so far does not reach that limit.
The operations come after Elon Musk’s followers voted in favor of the sale of that 10% of his stake, valued at some $21 billion dollars.
This assumes completion of the 10b sales
— Elon Musk (@elonmusk) December 22, 2021
Musk will pay more than $11 billion in taxes this year, an amount that could constitute a record payment to the Internal Revenue Service of the United States. The Californian carmaker’s chief executive officer said earlier this month that he will pay more taxes this year than any other American in history.
At the beginning of 2018, Tesla presented a new compensation framework for its CEO for the next ten years, which contemplated that he would only collect 100% of his emoluments if the firm met ambitious market capitalization, profit and turnover targets.