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AP National Business

Musk: I’ll sell 10% of Tesla stock based on Twitter poll

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Published 6:44 AM

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Tesla shares closed Monday down nearly 5% after CEO Elon Musk said he would sell 10% of his holdings in the electric car maker — more than $20 billion worth by most calculations — based on the results of a poll he conducted on Twitter over the weekend. According to analyst Dan Ives of WedBush Securities, Musk owns about 23% of Tesla’s stock and has about $10 billion in taxes coming due to stock options that vest next summer. Much of Musk’s wealth is held in shares of Tesla, which does not pay him a cash salary. 

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