Elon Musk’s Twitter followers ask Tesla billionaire to sell stake with stock in trillion-dollar league
- Some 57.9 per cent of people voted in favour of Musk’s 10 per cent stake sale in his Twitter poll over the weekend
- Stake sale would be worth about US$21 billion based on his last reported holding at current market price
Some 57.9 per cent of votes were in favour of the stake sale, which is worth about US$21 billion at current market price. The poll garnered more than 3.5 million votes.
“I was prepared to accept either outcome,” Musk said, after the voting ended.
The world’s richest person tweeted on Saturday that he would offload the stake if the social media users approved the idea. Musk has previously said he would have to exercise a large number of stock options in the next three months. Selling some of his stock could free up funds to pay for taxes on the options.
Musk held about 170.5 million shares on June 30, and selling 10 per cent of that holding would generate close to US$21 billion based on Friday’s trading, according to Reuters calculations. Tesla closed at US$1,229.09, giving it a market value of US$1.2 trillion.
