Elon Musk's Brother, Kimbal Musk, Sells Tesla Stock Before Elon Musk Sinks Shares Kimbal Musk sold off about $109 million of Tesla stock Friday, one day before his brother's Twitter poll that sunk shares in the company.

By Emily Rella

Opinions expressed by Entrepreneur contributors are their own.

Jerod Harris | Getty Images

Tesla board member Kimbal Musk sold some of his stock in the electric care company just before his brother, founder and CEO Elon Musk, upset the share price by polling his Twitter followers on whether he should sell some of his holdings.

All told, Kimbal Musk sold off about $109 million of Tesla stock Friday, one day before his brother's Twitter poll, according to a Securities and Exchange Commission filing.

He bought 25,000 shares for $74.17, then sold 88,500 shares at an average price of about $1,230 and donated an additional 25,000.

Elon Musk sank Tesla shares after he polled his 62.8 million Twitter followers on whether he should sell his shares.

"Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock," he wrote on the social media platform. "Do you support this?"

3,519,252 people voted in a somewhat close draw, with 57.9% of voters saying yes and 42.1% saying no. He vowed to "abide by the results" of the poll, no matter what they were.

The question and its subsequent results brought Tesla stock down over 5% in pre market trading on Monday morning.

Musk noted in a follow-up Tweet that he does "not take a cash salary or bonus from anywhere" and that in only owning stock, he can only pay personal taxes by selling said stock.

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Zillow Predicts These 10 Places Will Have the Hottest Housing Markets in 2025

Zillow predicted that the hottest housing market of 2025 will be Buffalo, New York. Here's why.

Science & Technology

5 AI Books Top Entrepreneurs Are Reading in a Rush for 2025

Entrepreneurs must embrace AI or risk falling behind. Discover 2025's top 5 AI books to gain a competitive edge, featuring insights from "The Wolf is at the Door" and a free AI Success Kit.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

These Are the 10 Highest-Paying Jobs That Only Require a 2-Year Degree — With Some Around $100,000 and Higher

People with two-year degrees may see career growth in the healthcare, aviation, and technology industries over the next 10 years, according to a new report.

Growing a Business

Want to Build a Digital Business? Here's the Framework You Need to Succeed.

The article emphasizes how ISO 20000-1 serves as a strategic tool for entrepreneurs to structure entirely digital businesses.