Elon Musk – the extraordinary billionaire Tweeted a poll for his followers, "Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock." In response to this, his fans supported 58% of the vote. However, Musk had previously planned the sale owing to the tax obligations.
<h2>Tesla stock shoot up for a billion dollars As Elon Musk Tweeted Poll</h2>
As stated by the recent financial document, Tesla CEO Elon Musk has unloaded beyond one billion dollars worth of shares.

On November 11, 2021, the Securities and Exchange Commission presented filings confirming the sale worth 934,000 Tesla shares, ranging nearby $1.1 billion.

It's not the first time Elon Musk sells the <a href="https://www.cbc.ca/news/business/elon-musk-twitter-tesla-stock-1.6245178#:~:text=After%20making%20a%20promise%20on,tax%20obligations%20for%20stock%20options.">shares</a> he had already sold company stock since Tesla went public on the <a href="https://www.cryptoknowmics.com/news/stronghold-digital-mining-to-list-around-6-million-shares-in-an-ipo-on-the-nasdaq/">Nasdaq</a> in 2010. In 2021, he sold the shares at an average price of $1,170, securing almost 180% in gains in prices. The benefit is greater than the past year and it is his largest transaction.
<h2>Planning initiated back in September</h2>
According to the Securities and Exchange Commission's reports, Musk already prepared to sell the stock as part of his tax obligations in September.

The Tesla CEO has sold less than 1% in this sale, nonetheless, he holds more than 170 million shares.

In feedback to his poll, he acclaimed "I don't accept a cash salary or bonus from anywhere. All I have is stock, thus the only way for me to pay taxes personally is to sell stock."

Soon after the poll, i.e. on November 10, Tesla stock <a href="https://www.cryptoknowmics.com/news/tesla-tokens-subside-on-elon-musks-twitter-tesla-sale-poll/">subsided</a> 16% dipping down to $1,000. TSLA had gained $1,230 on Nov. 4 and at present, its worth went down by 11%.

According to a crypto circle theory – hopium, Musk might put some of that cash into digital assets. Mr. Whale posted a poll for 357,000 followers stating, "Which cryptocurrency should he buy to establish himself the first-ever trillionaire?"

MicroStrategy CEO Michael Saylor propound, "He must buy more BTC", following Musk's Twitter poll.

Tesla Stock Gets a Hike of $1.1B by Elon Musk

Tesla CEO Elon Musk has unloaded beyond one billion dollars worth of shares. On November 11, 2021, the Securities and Exchange Commission presented filings confirming the sale worth 934,000 Tesla shares.

Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

Tesla Stock Gets a Hike of $1.1B by Elon Musk

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