Sales of Tesla’s Stock Shares
CEO of Tesla Elon Musk sales Tesla’s stock continued till Monday. Elon Musk sold $931 million in single (Monday). He sold stock worth $7.8 billion in last trading six days till Monday. Elon Musk sold 934,000 shares for $1.1 billion on November 8. He again sold 934,000 shares last Monday. But there was a difference in price because the shares price went down after the sale of stock. Elon Musk sold 5% of Tesla’s shares. It means Elon Musk will again exercise the option to sell the stock of Tesla. Because these stocks are going to expire in August 2022. Tesla achieved the milestone of a $1 trillion-dollar company on October 25th. Thanks to giant Hertz (Car Rental Company) which gave the order of 100,000 electrical vehicles. Hertz has a plan to deploy these cars across all over U.S. and Europe. Tesla is still a $1 trillion-dollar company even after the sales of stock.
Plan to Sales Tesla’s Stock Shares
Actually, sales of Tesla stock shares are part of the plan from Elon Musk because these stock shares are going to expire in August 2022. CEO of companies have the authority to establish the plan to sell the company stocks. Sales of shares happened especially after Elon Musk conduct Twitter pol on November 6 and 7 in which he asked the public and followers whether he should sell 10% of Tesla’s stock to pay tax.
In another tweet on November 7, he said “Note, I do not take cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”
Tesla $1 Trillion Dollar Company
Tesla achieved the important milestone of becoming the $1 trillion-dollar company and joined the $1 trillion dollar club on 25th October. Tesla is the 6th $1 trillion-dollar company in the U.S with Apple, Amazon, Microsoft, Alphabet, and Meta. In fact Apple, Microsoft, and Alphabet are $2 trillion dollar companies. But Tesla achieved this milestone after the biggest Car Rental Company Hertz made an order of 100,000 electrical vehicles to Tesla. Hertz is going to deploy these cars across all over the Europe and U.S. After this order, the share price of Tesla cross $1000 dollars.
Public Sentiment in U.S
There is a popular sentiment in U.S people that rich people should pay tax more than middle-class people with low income. Especially after 2019, covid-19 hit the U.S economy very hard. People all over the world have limited buying capacity. Now, when the economy start recovery and was going towards stabilization, the world is facing another supply chain crisis. Inflation is going to touch the sky because of the supply chain crisis. Now the world is also facing a shortage of gas and LNG.
On November 13, U.S Senator from Congress Bernie Sander write a tweet about tax. He said “We must demand that the extremely wealthy pay their fair share. Period.” He was pointing at billionaires that they should pay their fair taxes.
Elon Musk mocks Bernie Sander in his tweet. Elon Musk said, “I keep forgetting that you are alive.” In another tweet from Elon Musk. He mention Bernie Sander and said “Want me to sell more stock, Bernie? Just say the word …”
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