Elon has currently sold one third.
Form 4s here:
SEC FIlings | Tesla Investor Relations
Details from Factchecking:
Form 4s here:
SEC FIlings | Tesla Investor Relations
Details from Factchecking:
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Elon selling 10% of his TSLA stake (including tax implications)
- Thread starter Buckminster
- Start date
marvinat0rz
Member
Has there been any organized discussion on Musk's motivations for reducing his stake?
I think most of the current price drop is due to investor worries that Musk sells due to an expectation that the stock price will fall. If this was Musk's motivation, he has by now manufactured a narrative that would protect him from insider trading allegations. When the public narrative very publicly has been about taking his share of the tax burden and/or having the financial freedom to do charity, in a political climate where this is a common source of criticism, such allegations would fall flat. This would be my cynical take, without changing my long-term expectation that Tesla will keep growing like crazy.
I can't say that I blame him for taking some money off the table at this point, although he did say some years ago that "just like my money was the first in, it will be the last out". Of course, the stock price has 100x'ed since then, and he probably wishes for some stability by now. And he still retains 90% of this stake. (Wonder how that affects voting?)
Having Musk repay his loans is a good thing to avoid any questions or speculation around margin calls, so from that perspective it removes some theoretical uncertainty.
I think most of the current price drop is due to investor worries that Musk sells due to an expectation that the stock price will fall. If this was Musk's motivation, he has by now manufactured a narrative that would protect him from insider trading allegations. When the public narrative very publicly has been about taking his share of the tax burden and/or having the financial freedom to do charity, in a political climate where this is a common source of criticism, such allegations would fall flat. This would be my cynical take, without changing my long-term expectation that Tesla will keep growing like crazy.
I can't say that I blame him for taking some money off the table at this point, although he did say some years ago that "just like my money was the first in, it will be the last out". Of course, the stock price has 100x'ed since then, and he probably wishes for some stability by now. And he still retains 90% of this stake. (Wonder how that affects voting?)
Having Musk repay his loans is a good thing to avoid any questions or speculation around margin calls, so from that perspective it removes some theoretical uncertainty.
Would it (beyond pedantry/ technicality right)? Estimated taxes are due Jan 15th for Q4. Regardlesss of today's date, the taxes will be paid.
Only in terms of effective CA tax rate once Elon has established residency in TX for future option exercises.
I believe Elon can reduce CA taxes by delaying exercise as long as possible to minimize the percentage of time from grant to exercise that he was a CA resident. Floor of 30% or so.
Still a lot of tax, but higher basis of $70, and his ownership will increase.
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