The world's richest person is Musk.
Maja Hitij is a photographer.
Since Musk asked his followers if he should sell 10% of his stake in the company, he has sold 9.2 million shares.
The chief executive promised to honor the target, which is more than halfway towards it.
In September, Musk owned over 170 million shares in the company, so he would need to sell 17 million of them to get rid of 10% of his stake. He would need to sell more if he continued to exercise stock options.
On Tuesday, Musk sold another 934,000 shares for over $1 billion. He also exercised 2.15 million stock options and the sales were earmarked to pay taxes on them.
Since the November 6 poll on the social networking site, Musk has sold around 9.2 million shares, which has netted him a cool $9.9 billion.
Musk asked his followers to sell 10% of their stock in order to avoid taxes. Do you support this?
He promised to follow through on his promise, and so far it appears he is doing so.
If he exercised his stock options, Musk would have to pay taxes on the money he made.
Since Musk started selling his shares, the stock price has been volatile. The stock fell to an all time low of $979 on November 15 after hitting a record high of $1,240 on November 4. As of Tuesday's close, it had rebounded to $1,109.03.
The huge rise in the share price of Musk's company has catapulted him to the top of the global rich list. He is now worth more than $300 billion, thanks to the rise in his stock price.
5 experts, including Michael Burry of 'The Big Short', have said about the future of the share price of the company.
Business Insider has an original article.
