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Elon Musk<\/strong> is one of the majority shareholders in his Tesla company<\/strong>, famous for its high-end electric vehicles<\/strong>. In the past week alone, the US billionaire has acquired an additional 2.1 million shares<\/strong> in the company, worth around $2.2 billion<\/strong>, according to Tuesday’s closing data. However, he decided to sell<\/strong> some of them, 943,091 shares<\/strong> for a total of $973 million<\/strong>. The reason? To pay his taxes<\/strong>, and to keep the commitments<\/strong> he made to his community on Twitter<\/strong>.<\/p>\n <\/p>\n On Saturday 6 November, the billionaire published a poll<\/strong> on the social network, asking his community whether he should sell part of his stake in Tesla<\/strong>. Faced with the wave of “yes” votes, Elon Musk<\/strong> has sold last week 8.2 million shares<\/strong> he held in the electric car manufacturer<\/strong>, for a sum approaching 8.8 billion dollars<\/strong>. Although these figures seem and are indeed pharaonic, they represent only half<\/strong> of Musk’s objective, namely to sell 10% of his stake in Tesla<\/strong>.<\/p>\n <\/p>\n After several difficult days following the billionaire’s declarations, Tesla<\/strong> has recovered, and at the close of trading on Tuesday, the stock was up<\/strong> 4.1%. However, its market capitalisation<\/strong> has been on a downward trend<\/strong> since Elon Musk started selling shares.<\/p>\n <\/p>\n With electric carmakers<\/strong> increasingly in demand on Wall Street, Tesla’s stock<\/strong> has jumped<\/strong> more than 150% in the past 12 months.<\/p>\n <\/p>\n “There’s still a lot of buying interest because I still think at the end of the day, investors see this as a phase, and see the pullbacks as an opportunity,<\/em>” said Craig Erlam<\/strong>, an economist at OANDA<\/strong>. “If you ask me where the share price is going to be in six, 12 months, I would say it’s more likely to be 20% higher than 20% lower<\/em>.”<\/p>\n <\/p>\n <\/p>\n