MUSK SELLS ANOTHER £750M OF TESLA SHARES AFTER POLL

ELON Musk has sold another £750m of shares in Tesla after vowing to flog 10pc of his stake earlier this month.

The world’s richest man (pictured) has sold more than half of the stock he said he would offload in the electric car maker since holding a Twitter poll. Musk, 50, asked users on the site on November 6 whether he should get rid of 10pc of his holding in the group, partly to pay taxes.

He said he would ‘abide by the results’ and a majority of respondents voted in favour of the enormous sale. To date, South African-born Musk has flogged 9.2m shares worth around £7.5bn in the group.

To reach the 10pc mark he would need to sell around 17m shares.

Since he committed to the sell-off, Tesla’s stock has been volatile – dropping by 16pc immediately after the online ballot. This has also affected his fortune, which now stands at £217bn – including his £195bn stake in Tesla. At the worst point, Musk’s wealth fell by £37bn in just two days. Tesla’s value briefly dropped below the $1trillion mark in the upheaval – but it is now back above that level.