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Elon to sell major stake in TSLA in 20 years to make life multi-planetary? Nope

Discussion in 'SpaceX' started by e-FTW, Jun 16, 2018.

  1. e-FTW

    e-FTW New electron smell

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    • Informative x 1
  2. Electroman

    Electroman Active Member

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    The way i read it, he will sell a majority stake (only) after 20 years and still retain some.

    And he also said in another tweet, he would continue to sell every few years only for these two reasons:

    - to pay his taxes
    - for charity that will remain anonymous.
     
  3. Nikxice

    Nikxice Member

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    Elon is likely choosing a different path to billionaire gifting versus the Buffett/Gates group that's signed a giving pledge of more than half their fortunes. Nothing wrong with providing clean water and agriculture to third world countries. Maybe these folks will even be responsible for funding some cures for cancer. Always thinking big, Elon's got the survival of the human species on his mind.
     
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  4. e-FTW

    e-FTW New electron smell

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    Here are the two Tweets:
    Elon Musk on Twitter
    Elon Musk on Twitter

    What I'm really saying is that you cannot connect the 20 year horizon with Mars. Mars is ongoing according to what Elon said there, not just a future thing.
     
  5. Canuck

    Canuck Well-Known Member

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    Wait a minute, we're trying to make sense of Elon's tweets?

    I'll stay out of it.
     
    • Funny x 4
  6. Grendal

    Grendal SpaceX Moderator

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    This is something Elon has said for a number of years. Tesla's mission statement is to promote and accelerate sustainable transport and sustainable energy. As Elon has said forever, moving to sustainable transportation and energy is inevitable. The question was always how soon. Tesla was created to showcase the advantages of sustainable transportation and Solar City was sustainable energy. It has been successful at doing both. Tesla isn't going to go away but its goal is being met. As we know Elon wants humanity to be multi-planetary as his other major goal. That goal has a long long way to go. Elon will hopefully live long enough to see that goal coming to fruition. The cost to make that goal come to pass is hundreds of billions to possibly a number of trillions. Elon understands this. So he has said that he intends to spend his wealth on making that goal happen. So saying that he will divest himself of Tesla shares to pay for Mars is just accelerating that more difficult goal.
     
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  7. e-FTW

    e-FTW New electron smell

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    Yup. I just think he will do this right now, next year and so on. Not as one big push in 20 years as that article stated.
     
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  8. Tiger

    Tiger Active Member

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    20 years Elon-time probably quates to over a century.
     
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  9. Grendal

    Grendal SpaceX Moderator

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    That might be what he feels he should do but Tesla is a publicly held company and Elon knows that would have an impact on the stock price. So he won't do it because he knows it would hurt the company for a number of years to come. SpaceX isn't hurting for money enough that Elon needs to sell stock. Besides he promised that he wouldn't sell any Tesla stock and has contracted goals he must meet with Tesla. So 20 years would make sense. Maybe a little amount in ten years or more.

    JMHO.
     
  10. Krugerrand

    Krugerrand Well-Known Member

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    I think it’s self-explanatory. In 20 years he’ll want to be heading to Mars himself and to ensure the colonization is well on its way to succeeding before he dies there.
     

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