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Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 - Investment - Nairaland

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Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by naijapower(m): 4:09pm On Dec 10, 2021
Knowledge is profitable to direct. Musk made cool legal money without stress.

Musk sold 934,091 Tesla shares for more than $1,000 per share to ?

Earned $934,091,000:00

Then Spend $13,728,000:00 to buy 2.2 million Tesla share from ?

The Current value of the 2.2 Million Tesla share is $1001:00

Based on current tesla value, Musk made $920,363,000:00 cash plus 2.2 million Tesla share valued at $2,202,200,000


Tesla CEO Elon Musk continues to offload his company’s shares, selling another bulk worth $963.2 million, according to Thursday regulatory filings. However, the billionaire bought back Tesla shares for pennies on the dollar.
In his latest exercise of options,the tech billionaire sold 934,091 Tesla shares for more than $1,000 per share. However, he also purchased another 2.2 million Tesla shares for $6.24 apiece, according to the filings. Musk doesn’t receive a salary or cash bonuses from his company, so he can only pay his taxes by selling stocks. He is also allowed by the company board of directors to purchase Tesla shares at significantly lower prices.

Last month, Musk, who’s facing a looming tax bill of more than $15 billion, asked his Twitter followers if he should sell stock and pay taxes on unrealized capital gains. His followers voted ‘yes’ and as a result, he has sold more than 10 million shares worth over $11 billion.

thinking of quitting my jobs & becoming an influencer full-time wdyt

— Elon Musk (@elonmusk) December 10, 2021
In September, Musk said at the Code Conference in Beverly Hills, California that his marginal tax rate will be more than 50% when his stock options expire at Tesla, and that he was already planning to sell soon.

“I have a bunch of options that are expiring early next year, so ... a huge block of options will sell in Q4 – because I have to or they’ll expire,” he said.

At his current pace of exercising, there are about three weeks left before Musk will be done with those options.Tesla shares slid 1% on news of the sale, trading at around $1,002 per share in pre-market on Friday, after dropping 6% in the previous session. The fall also followed a tweet in which Musk said he was thinking of quitting his jobs to become an influencer.
[url] https://www.rt.com/business/542799-musk-offloads-tesla-stock/ [/url]

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Re: Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by daddytime(m): 4:34pm On Dec 10, 2021
Nice business acumen
Re: Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by MufasaLion: 4:59pm On Dec 10, 2021
My mans! I still don't understand what type of creature he is. Fvcking Genius.
Re: Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by KAM3KAZI: 5:05pm On Dec 10, 2021
Sounds like we should accumulate Tesla stock
Re: Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by habsydiamond(m): 5:30pm On Dec 10, 2021
Na everybody get him own time,. Atimes rich people keep getting richer because of the brains behind the scene doing the work. People studying the loopholes and how to improve the market ..... Nothing makes one rich other than producing what is unique...
Re: Musk Sells Tesla Shares for $1,000, Buys Them Right Back For $6.24 by Ssdd: 8:10pm On Dec 10, 2021
I only see people manipulating people to get rich that’s it .same thing crypto, Same thing stock market

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