Elon Musk sells “almost all” his goods, Tesla stock “too high”

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  • Elon Musk announced in a tweet on Friday that he would sell “almost all” of his physical assets.
  • Billionaire CEO Tesla also tweeted that he “won’t own a home.” He owns at least seven homes with a total value of more than $ 100 million.
  • Musk continued to denounce government shutdowns amid the COVID-19 pandemic and added that he believed Tesla’s share price was “too high”, which appeared to trigger a sale on Friday morning.
  • Visit the Business Insider home page for more stories.

Elon Musk, the billionaire and prolific user of Twitter, is rethinking his attachment to the physical world – and said in a tweet on Friday that a first step would be to “sell almost all physical goods.”

He also said he thought Tesla’s share price was “Too high” – a tweet which was followed by a sharp drop in the share price of the electric car manufacturer. Tesla stock lost 9.3% late Friday morning.

Musk also said he “will not own a house.” He continued with a tweet that his girlfriend, songwriter and producer Grimes, was mad at him.

Musk owns at least seven sumptuous homes with a total value of more than $ 100 million. He and Grimes are expecting a baby for Monday, he says in another tweet.

Friday morning, his remarks came in a larger tweetstorm. Musk, who is known for his eccentric presence online, also continued his rant for weeks against government-forced closings in response to the COVID-19 outbreaks.

Tesla’s plant in Fremont, California, was forced to close due to an on-site shelter order in San Francisco Bay.

He denounced the closings and orders during a shareholder call earlier this week, calling them “fascists” in a rant that was abruptly cut short when the call went offline.

It was not clear why Musk would want to sell almost all of his property or where he would live once he did not own a house. A Tesla representative did not immediately respond to a request for comment.

Musk has previously violated the Securities and Exchange Commission for tweeting about Tesla’s actions. He settled a lawsuit last year after tweeting in 2018 that he plans to take Tesla privately at $ 420 per share. As part of the settlement, Musk agreed to review the tweets that could displace Tesla’s share price.

An SEC representative did not immediately respond to a request for comment.



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