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Elon Musk selling shares - and Elon Charity sells

Discussion in 'Tesla Motors' started by Avenger, May 27, 2016.

  1. Avenger

    Avenger Banned

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  2. esk8mw

    esk8mw Active Member

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    You cluelessly move from one topic to the next, eh? Elon didn't dump TSLA. He increased his holdings overall, donated 1.2 million shares to charity and sold only enough shares to cover tax withholding on an option exercise expiring in December which was ~$210 in the money - so gigantic tax bill that he cannot float without selling to cover, much like the rest of us mere mortals.

    Trust me, you don't want to bother trying to debate this one. There might be limits on how people can respond to your Fukuta nonsense but you will go nowhere with this FUD. Try something else, mkay?
     
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  3. JohnSnowNW

    JohnSnowNW Active Member

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    Fukuta supply role to Tesla

    I plan on posting this in every thread you start, just to head off anyone that may be unaware of the sole reason you post on this forum.
     
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  4. hockeythug

    hockeythug Active Member

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    *face palm*
     
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  5. ecarfan

    ecarfan Well-Known Member

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    This article explains it properly, I think. Elon Musk is about to do something weird for a billionaire, pay ~$600 million in taxes

    Quote: "When the CEO of a company sells a large amount of shares, it is generally perceived as a bad sign, but in this case, Tesla makes an effort to highlight that Musk is selling the shares “solely in order to pay income taxes related to previously reported stock option exercises” and that he is overall a net buyer in the transaction.
    Tesla is referring to two different occasions in the past few months when Musk exercised over $100 million worth of stock options, but he didn’t sell any at the time to cover the taxes."

    As usual, member @Avenger fails to accurately analyze the data he refers to.
     
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  6. Grendal

    Grendal Active Member

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    Since there is a $600 million infusion into the company. I am curious. Did Elon give the company the $600 million? From what I understand, he got 5.5 million shares which equals out to more than $1.25 billion. He gave $250 million to charity (also for tax purposes) and paid $600 million in taxes. That leaves the remainder to go to Tesla?

    Also, does anyone know what charity Elon gave $250 million to?
     
  7. hockeythug

    hockeythug Active Member

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    Read the article posted above. Musk's transaction is completely separate from Tesla's capital raise of $1.4B.
     
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  8. S'toon

    S'toon Knows where his towel is

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  9. ecarfan

    ecarfan Well-Known Member

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    Don't confuse the OP with facts; he's not interested. He prefers to repeatedly post nonsense.
     
  10. SageBrush

    SageBrush Active Member

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    #10 SageBrush, May 27, 2016
    Last edited: May 27, 2016
    I understand that OP is throwing out FUD because he is short Tesla, but can anybody explain why EM would not wait for 12 months in order to reduce Capital Gains tax ?

    Oh, and who is the charity ?

    Addendum: Perhaps I understand...
    Tax is due the year the options are exercised. Right ?
     
  11. mark80908

    mark80908 Member

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    Elon put a hole in "Tax payer subsidized cars for the rich". Elon paid $600 million in taxes. $600 million / $7500 = 80,000 EV Tax Credits. By my research, Tesla has sold around 73,000 cars in the US through March 2016. Effectively Elon has paid the federal tax credit for every US Tesla purchased so far.
     
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