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Elon Musk Sells $150m Tesla Stock Following Scathing Bernie Sanders Tweet

by : Poppy Bilderbeck on : 16 Nov 2021 11:45
Musk Sells $150M Tesla Stock After Bernie - Alamy Alamy

Elon Musk has sold an extra $150 million of his Tesla stock following online beef with Senator Bernie Sanders. 

Sanders called on billionaires via Twitter to be ‘pay their fair share’. However, Musk snapped back at the 80-year-old, mocking his age and saying he didn’t realise Sanders was ‘still alive’.

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The Tesla CEO, who is currently the richest man in the world, then sarcastically offered to sell more stock if Sanders ‘said the word’. Despite his sarcasm, it seems Musk stuck to his offer, filing paperwork on Monday, November 15, to sell more of his stock.

Musk, who is worth a reported $279 billion, sold more than 148,000 shares of Tesla stock, and 2.1 million stock options, which came to a total of around $150 million, Newsweek reports.

Moreover, to comply with tax withholding obligations, in the previous week Musk has also reportedly sold an additional $920 million of Tesla stock.

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Overall, Musk has now sold more than $6.9 billion worth of shares in Tesla.

Musk had previously put a poll on the Twitter to ask his followers whether he should sell some of his Tesla stock to pay his taxes.

Promising to abide by the results of the poll, Musk proposed ‘selling 10% of [his] Tesla stock’ and received a majority vote.

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Musk later questioned Bernie as to if he thinks ‘53% seem[s] reasonable’? Before joking about whether the senator had been ‘kidnapped by aliens’ after not receiving a response.

He explained to a user on the thread:

I had majority control for the first 5 years or so of Tesla, but car companies need lots of capital, so now I’m around 20% or so, despite putting in as much as I could along the way.

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Sanders has condemned Musk’s wealth before, calling the unequal wealth of the ‘two guys’ who ‘own more wealth than the bottom 40% of people in this country’ ‘not only immoral’ but ‘unsustainable’, in a previous tweet.

Sanders also attacked Musk’s other company, SpaceX, criticizing the money spent on the spaceflight when he could think of so many ways the money could be spend to help with inequality on Earth.

Tesla was valued at over $1 trillion in September, making it the sixth US brand to be valued over such a figure, and despite selling shares, Musk remains the current richest man in the world.

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Topics: Technology, Bernie Sanders, Elon Musk, Now, Tech, Tesla, Twitter

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Newsweek
  1. Newsweek

    Elon Musk Sells $150+M in Tesla Stock Options, Shares, SEC Documents Show