Should Tesla sell shares worth INR 1.5 lakh crore?
Business : Elon Musk, the world's richest man and owner of Tesla, has taken a really big decision. Elon Musk has started a poll on the social website Twitter. In this poll, Elon Musk has written that, he wants to sell 10% of Tesla shares. He has asked people whether they support the proposal. He is considering reducing his stake in Tesla by the fourth quarter of this year. More than 3.5 million people have voted after Musk's tweet. Of these, 57.5% have answered 'yes'. At the same time, 42.5% of the people have said not to sell the shares.
He made three more tweets about this. In the next tweet, Musk wrote that I will accept the results of this poll, whatever it may be. He wrote that I do not take cash salary or bonus from anywhere. I only have stocks. So the only way for me to personally pay the tax is to sell the stock. Musk is believed to have said this in response to America's proposed bilinear tax. The bilinear tax is the plan of lawmakers in President Biden's party. If approved, America's billionaires will have to pay more taxes. This will affect around 700 billionaires.
At the Code Conference in September, Elon Musk said that his stock option in Tesla Inc. was about to expire. For this, they may have to pay tax of more than 50% to the government. Because of this, they want to raise money by selling their stake before the stock option expires. Being the richest person in the world, this amount will be huge for Elon Musk. Currently, Musk owns $200 billion worth of Tesla shares. According to calculations, if Musk sells his 10% stake in Tesla, then its value can be around $21 billion (more than 1.5 lakh crore rupees). Interestingly, Tesla's stock has jumped 74% recently.
Should Tesla sell shares worth INR 1.5 lakh crore?
Several other current and former board members of Tesla have also earned millions of dollars by selling their stock options. The shares of the company have been registering a spectacular rise in the last few days. In such a situation, whoever has stock options of Tesla Inc., they are selling them and collecting profit.
Significantly, The Indian government has also allowed Elon Musk's company to do business in India. Last week Tesla's stock crossed the level of $ 1,000 (about Rs 75,000) for the first time. Tesla's stock is currently worth about $ 1,100 (about Rs 82,400) on Nasdaq. Elon Musk, the CEO of electric car maker Tesla, is the first rich person in the world to have a net worth of more than $300 billion. Last week, the price of his company's shares increased so much that Musk's wealth increased by $ 10 billion in one day. According to a report in Daily Mail, Musk's net worth is currently $302 billion.
Piyush Verma
I am a Blogger and Web Designer.
.jpg)