Elon Musk Sells $1.05B Tesla Stocks Again; EV Manufacturer Wants to Gather Video Data During Crash

Elon Musk Sells $1.05B Tesla Stocks Again; EV Manufacturer Wants to Gather Video Data During Crash
Elon Musk sold yet again sold Tesla stock. An accumulatively $1.5B Stocks of Tesla has been sold to the public. Furthermore, Tesla wants to gather videos of Tesla’s Beta crash. Photo : ROBYN BECK / Getty Images

Elon Musk yet again sold Tesla stocks.

An accumulated amount of $1.5 billion worth of Tesla stocks has been sold to the public.

Furthermore, Tesla wants to gather videos of Tesla's Beta crash.

Elon Musk's Tesla Stocks

Elon Musk, the world's richest person, sold $1.05 billion worth of Tesla stock, bringing him halfway to meeting his Twitter poll-backed vow to sell 10% of his interest in the electric vehicle firm.

According to regulatory documents, Musk sold roughly 934,000 shares for slightly over $1.05 billion.

As stated in the documents, the sale will satisfy taxes since Musk exercised options to buy 2.15 million shares.

Tesla Stocks Sold

Since inviting Twitter fans to vote on whether he should sell 10% of his investment in Tesla, the billionaire has sold roughly $10 billion worth of stock some 9.2 million shares this month.

The Tesla CEO will need to sell a total of about 17 million shares to meet the 10% criterion, according to Forbes, with his current transaction moving him above the halfway point.

Although Musk's tweets have been known to impact markets, something for which he has been chastised by regulators, he has pledged to let Twitter decide the fate of some of his Tesla stocks.

Users of the social networking platform voted overwhelmingly for the billionaire to sell 10% of his ownership, and Musk has been selling chunks of stock ever since.

Prior to the selling spree, Musk has only sold a small amount of Tesla stocks before for $24 million in 2010 and $593 million in 2016.

Musk became the first individual to be worth more than $300 billion in October, albeit his fortune has since fallen short of this mark.

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Tesla's FSD

In another news, in the event of a crash, Tesla needs Full Self-Driving testers to allow video collecting.

According to a report by Engadget, Tesla's latest FSD release asks drivers to consent to allow it to collect video from a car's exterior and interior cameras in the event of an accident or "serious safety risk."

This will be the first time Tesla will link footage to a specific vehicle and driver.

The EV giant has already used video data collected as part of FSD to train and improve its AI self-driving systems.

Now, the company will be able to associate footage with specific automobiles under the terms of the new agreement.

The agreement states via Electrek, "By enabling FSD Beta, I consent to Tesla's collection of VIN-associated image data from the vehicle's external cameras and Cabin Camera in the occurrence of a serious safety risk or a safety event like a collision."

The phrasing could signal that Tesla wants to make sure it has proof in case its FSD system is blamed for an accident. It may also be used to discover and resolve major problems more quickly.

Full Self Driving 10.3

The Tesla FSD 10.3 was distributed to a wider audience than prior betas.

However, it was shortly withdrawn due to flaws such as unjustified Forward Collision Warnings, unexpected autobraking, and other concerns.

Furthermore, Tesla is making the new beta available to even more people with Driver Safety Ratings of 98 and up. Previously, beta access was only available to those with pristine 100 scores.

 

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