Elon Musk Sells Tesla Shares Worth Nearly $7 Billion — Plans to Buy TSLA Stock Back if Twitter Deal Falls Through.
11 Aug 2022, 08:00
Elon Musk Sells Tesla Shares Worth Nearly $7 Billion — Plans to Buy TSLA Stock Back if Twitter Deal Falls Through
Elon Musk has sold nearly 8 million Tesla shares worth almost $7 billion. “It is important to avoid an emergency sale of Tesla stock” if Twitter forces him to close the $44 billion deal to buy the social media platform, the Tesla CEO stressed.
Elon Musk Sells Nearly 8 Million TSLA SharesTesla and Spacex CEO Elon Musk has sold 7,924,107 shares of Tesla (Nasdaq: TSLA), according to a filing with the U.S. Securities and Exchange Commission (SEC) Tuesday night. The transactions took place on Aug. 5, 8, and 9. At the time of writing, the sales amounted to $6.86 billion.
Musk confirmed on Twitter that he is done selling Tesla stock in reply to a Tesla investor’s tweet. The billionaire added: “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”