{"id":127164,"date":"2021-12-30T07:44:11","date_gmt":"2021-12-30T06:44:11","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=127164"},"modified":"2021-12-30T07:59:20","modified_gmt":"2021-12-30T06:59:20","slug":"elon-musk-sells-another-1bn-worth-of-shares-in-tesla-to-clear-tax-bill","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/12\/30\/elon-musk-sells-another-1bn-worth-of-shares-in-tesla-to-clear-tax-bill\/","title":{"rendered":"Elon Musk sells another $1bn worth of shares in Tesla to clear tax bill"},"content":{"rendered":"<p>Billionaire and founder of Tesla Inc., Elon Musk has reportedly sold another 934,090 shares in the electric vehicle manufacturer for $1.2 billion.<\/p>\n<p>This is coming barely 7 days after Musk confirmed that he would pay over $11 billion in taxes this year.<\/p>\n<p><span data-preserver-spaces=\"true\">He had also predicted that the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/20\/elon-musk-ill-pay-over-11bn-in-taxes-this-year\/\">tax<\/a> rate would rise next year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The billionaire has been offloading his Tesla stock after he polled Twitter users about selling 10 percent of his stake in November.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He has now sold more than 15 million Tesla shares.<\/span><\/p>\n<p>Recall that last month, Elon Musk sold about $5 billion worth Tesla&#8217;s shares and nearly $1 billion again the same month.<\/p>\n<p><span data-preserver-spaces=\"true\">Musk\u2019s fortune is heavily reliant on Tesla \u2014 and SpaceX valued at 100 billion after a funding round some months ago.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He will be required to pay this tax bill to receive compensation of more than $23 billion in the form of stock options that would otherwise expire in August 2022.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/articles\/elon-musk-exercises-final-batch-of-tesla-stock-options-behind-ceos-recent-share-dealings-11640748564\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a><strong><span data-preserver-spaces=\"true\">,\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Musk\u2019s holdings in Tesla have increased from about 170 million shares to over 177 million shares for exercising his options this quarter.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire and founder of Tesla Inc., Elon Musk has reportedly sold another 934,090 shares in the electric vehicle manufacturer for $1.2 billion. This is coming barely 7 days after Musk confirmed that he would pay over $11 billion in taxes this year. He had also predicted that the tax rate would rise next year. The [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":116718,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[37],"tags":[733,26246,17984,12856,22127],"class_list":["post-127164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-elon-musk","tag-musks-fortune","tag-spacex","tag-tax","tag-tesla"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elon Musk sells another $1bn worth of shares in Tesla to clear tax bill<\/title>\n<meta name=\"description\" content=\"Billionaire and founder of Tesla Inc., Elon Musk has reportedly sold another 934,090 shares in the electric vehicle manufacturer for $1.2 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/30\/elon-musk-sells-another-1bn-worth-of-shares-in-tesla-to-clear-tax-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk sells another $1bn worth of shares in Tesla to clear tax bill\" \/>\n<meta property=\"og:description\" content=\"Billionaire and founder of Tesla Inc., Elon Musk has reportedly sold another 934,090 shares in the electric vehicle manufacturer for $1.2 billion. 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