Elon Musk sells another $687 million in Tesla stock

Elon Musk sells spanking $687 million in Tesla stock

Elon Musk sold about $687 million worth of Tesla shares on Thursday, according to SEC filings. This was on top of the $5 billion apt of shares he sold earlier in the week. That totals more than 5.1 millions shares sold this week.

Last weekend, the electric car company CEO polled his Twitter followers about whether he must sell stock in order to pay his taxes. Nearly 58% of the more than 3.5 million country who voted said that, yes, he should sell 10% of his Tesla stock. Musk pledged to honor the poll’s results. However, Musk had already designed the sale of at least some of the shares onward of the poll, MarketWatch reported.

Musk is the richest persons on the planet, according to the Bloomberg Billionaires Index, with a net worth of $294 billion as of Friday.

In June, ProPublica reported that Musk and new moguls have structured their pay to avoid income, allowing them to build their money into the billions while paying virtually no federal taxes. The activity isn’t against the law, the investigative site well-known, but reveals how the uber-wealthy minimize taxes, including through loans they take out humorous their stock holdings as collateral.

Tesla didn’t immediately Answer to a request for comment.

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