Originally Posted by
Dassets
Incidentally I didn't expect he needed to sell any more stock. Basically he got more cash from the earlier sales than almost anyone calculates. Why? People said he needed to pay tax on any of the stock sold that came from converted employee/exec/director options. Simple? No. Elon made a disclosure in February 22 that he donated 5.044M shares to an unnamed charity 3 MONTHS EARLIER!! Yes he had already exited stock and delayed the disclosure for 3 months. I wonder whether the unnamed charity could have been the Musk Foundation, set up to invest in renewables research and space. Now that stock was almost certainly sold at the time of gifting. The gifting generated a nice tax credit for Elon.
It staggers me that investors and analysts can't even pick up these details. Average work all round. That 3 month delay between disposal and disclosure is unreal especially given Elon's direct sale into the market later. Wow, was he maybe pulling the wool over people's eyes to protect later selling? A cynic would think that was possible.
All docs supporting the disposal to the charity and timing were filed with the SEC where you can find them.
BTW analysts will need to downgrade again next year as Cybertruck is not going to meet embedded forecasts next year of circa 80,000 after the announcement that it won't be assembled in quantity until late next year.