In one week, he sold Tesla shares for a total of $ 6.9 billion.
According to the Securities and Exchange Commission, US Consob, Elon Musk, CEO of the company specializing in the production of electric cars, sold 5.1 million shares in a few days.
Over the same period, the stock has lost 15% on the Wall Street Stock Exchange in the past five sessions.
It is one of the largest financial transactions (excluding forced sales or the transfer of an inheritance) in such a short period of time.
The reasons that led the South African entrepreneur to operate on the market in such an aggressive way are unknown.
Last week Musk launched a Twitter poll, with most users asking him to divest 10% of Tesla. He had pledged to respect the "popular will" and since then the sales of the titles had begun.
In September, the tycoon had already planned some disposals, to be carried out by the end of 2021, in light of the more than 20 million options that he must exercise by August 2022. An operation that, if he decides to pursue, will cost him millions in taxes payable, since the income resulting from the difference between the value of Tesla shares when Musk exercises the options and the exercise price will be taxable.
According to some analysts, who have studied the performance of the stock, it is not so much the amount of transactions that increases its volatility, but the difficulty of the markets to interpret the actions of its tycoon.
(Unioneonline / F)
