Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by zaptheimpaler on Wednesday February 17, 2021 @12:23AM (#26163027)

Execs in any public company routinely sell shares at a pre-determined rate every quarter. Execs besides Elon have been selling as part of the plan, and company employees are free to sell as well.

According to SEC filings, Elon himself hasn't sold any recently, but he owns 20% of Tesla, worth about $10B today. Even if Tesla drops 10x, he would have $100M worth of shares. Not to mention all his other assets, shares in SpaceX etc. He has more money than he will ever need.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by differentView on Wednesday February 17, 2021 @01:10AM (#26163272)

> but he owns 20% of Tesla, worth about $10B today.

Tesla's market cap is $764.255B. 20% of that is $152.851B.

https://finance.yahoo.com/quote/TSLA/

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Re:Bitcoin surpasses $50K as major companies jump into crypto by zaptheimpaler on Wednesday February 17, 2021 @04:14AM (#26164351)

Thanks, that number did seem a little off to me :)

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Re:Bitcoin surpasses $50K as major companies jump into crypto by didibus on Wednesday February 17, 2021 @06:17PM (#26173177)

> He has more money than he will ever need

Sure, he also probably takes a salary for his role at the companies as well. Still, there's a reason he continues to work I'd assume? It might be he truly wants to get electric car on the road, or it could be he wants more money. In both cases you could ask: "Can Tesla survive his inevitable exit?"

So ignoring Elon's motivations here, as maybe he just has fun running Tesla, who knows, still the question is relevant to other investors into the Tesla stock, and for Tesla's employees.

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