Tesla’s share price has fallen sharply. The culprit? Elon Musk himself


Tesla’s share price has fallen sharply in recent hours. Who was the “culprit”? Elon Mask himself, the company’s founder and the richest person in the world.

Specifically, Tesla’s share price fell by 7.5% on the morning of Monday, November 8. This happened after Elon Musk announced on Sunday on Twitter that he could sell 10% of the share depending on the result of a survey.

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Musk asked his followers if they agreed with the proposal. More than 3.5 million people, or 57.9% of survey respondents, voted “Yes”. Meanwhile, the billionaire closed the poll.

Also, the share price decreased on the Frankfurt Stock Exchange by 7%, reaching 989.10 euros.

“I was prepared to accept the result, no matter what it was,” said Elon Musk, founder of Tesla and SpaceX.

Elon Musk’s poll:

Tesla shares are down only for a short time

According to a financial statement of Tesla from June 2021, Elon Musk would own 170.5 million shares of the company. Musk would get $ 21 billion from the sale of 10% of Tesla shares, he said Hotnews.ro.

Musk conducted that Twitter poll as a form of protest against new laws in America that would be introduced in the future.

Specifically, Democratic senators in the US have tabled a bill for billionaires, which means a surcharge for them. It is also proposed to eliminate a “legislative loophole”, which would allow billionaires to indefinitely postpone the payment of income tax on capital gains.

Musk disagreed with the bill, saying it would have to sell Tesla shares in order to pay taxes.

Recently, Tesla became the first car manufacturer in the world to exceed the threshold of one trillion dollars in market capitalization.


Source: Promotor by www.promotor.ro.

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