Why Elon Musk Just Sold $5 Billion in Tesla Stocks
A lot can be said about SpaceX and Tesla CEO Elon Musk. Recently, he’s been the topic of conversation (surprise surprise) after someone suggested to him he could donate a mere $6 billion, a fraction of his MASSIVE income, to completely solve world hunger.
This challenge got his attention…
Musk Tweeted: “If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.”
Elon Musk was all over the news this week, following his sale of nearly $5 billion in Tesla stock earlier this week, as well as an additional $687 million in the past 24 hours.
The Tesla CEO’s trust sold 639,737 shares in the electric vehicle company on Thursday, totaling about $687 million.
Shares of Tesla were down more than 3% in afternoon trading Friday and about 15% week to date.
Before the initial sale, Musk asked his millions of Twitter followers whether he should sell 10% of his Tesla stock and said he would follow the results, and also still owns more than 167 million shares of Tesla.
Also, American institution Ford Motor Co finally appears to be back on the road to recovery, as their stock jumped to its highest level in years following an upbeat financial projection and…