Tesla Stocks Market Value Falls Below $1 Trillion As Musk Offloads His Stakes

    Tesla Inc.’s valuation fell below the $ 1 trillion mark as Elon Musk continued to sell his shares as a part of his pledge to sell 10% of his holdings.

    As per Bloomberg News, the wealthiest person in the world offloaded 934,091 shares Monday worth $906.5 million to cover the taxes applicable on capital gains on exercising his options of 2.1 million shares. Musk has already sold $12.7 billion worth of stocks in the past five weeks.

    The latest transactions resulted in Tesla’s market valuation falling below $ 1 trillion since October 22. The shares continued to fall and dropped to $948.81 Tuesday at 9.43 a.m. in New York.


    The prices had peaked just before Musk took a poll on Twitter about whether he should reduce his holdings. The disposals of his stake have resulted in the Tesla shares dragging down. Musk has so far sold 70% of the 10% stocks he wants to offload from his direct ownership. 

    Before taking the Twitter poll in September, Musk had said that he would exercise his options in the fourth quarter. In September, he put a plan that resulted in more than half the shares sold in November. Musk has so far exercised almost 15 million options. 

    Musk, as usual, was busy on Twitter since his share sale plans. He announced that his company, Space exploration, will explore turning carbon dioxide into the environment and turning it into rocket fuel. For this, Tesla will accept cryptocurrency Dogecoin for merchandise.  

    Musk added to his wealth around $98 billion in 2021 and now has a net worth of $ 253.6 billion per the Bloomberg Billionaire index.

    RELATED ARTICLES

    Crypto30x.com Ocean

    Crypto30x.Com Ocean 2025: Smart Trading Made Simple

    In the swiftly evolving global of blockchain and decentralized finance (DeFi), Crypto30x.com Ocean emerges as...
    xrp price prediction 2030

    XRP Price Prediction 2030: Charting a Course Through Uncertainty

    Figuring out the xrp price prediction 2030? It’s a real puzzle. You've got all these...
    crypto30x.com tnt

    Crypto30x.com TNT: Unleash the Power of 30x Leverage!

    Feeling stuck with minimal crypto gains? Tired of watching small market movements yield insignificant profits?...
    Crypto30x.com

    Crypto30x.com: The Forthcoming of Digital Asset Investments

    The dynamic and evolving cosmos of virtual finance is actually global. Within this area, the...
    mutual fund

    Investing your annual bonus as a lumpsum? A calculator can help you make a thoughtful start to FY26

    As the new financial year kicks off, many salaried individuals are receiving their annual bonus....
    CoinWatch

    What Is CoinWatch? A New Way to Track and Analyze Crypto Markets

    With the crypto market getting stronger by the day, traders and investors need more than...
    how to start cloud kitchen from home

    How to Start Cloud Kitchen from Home With No Experience

    Ever stand in your kitchen, whipping up something amazing, and think, “People would pay for...
    Jojoy GTA 5

    Jojoy GTA 5 Download: How to Get Started Safely

    In the world of open-global gaming, Grand Theft Auto V (GTA 5) stands tall as...
    agents

    Letting Agents: The Middleman in the Chain of Tenancy

    The UK rentals sector is faster, more aggressive, and more complex—so letting agent role more...
    beauty tips - well health organic.com

    Beauty Tips – Well Health Organic.com: Unlock Radiant Skin with Home Remedies

    Ever look in the mirror and wish for that healthy, natural glow? Does the thought...
    Eehhaaa login

    Eehhaaa Login: A Full-Fledged Guide to the Website

    In these days’ virtual age, revolutionary structures are reshaping how users interaction with content material...