Elon Musk announced on a Twitter post that the CEO sold 7,924,107 Tesla shares worth about $6.9 billion. Tesla CEO Musk sold these shares after he said, “No further TSLA sales planned after today,” once he sold off $8.4 billion in April. Here are the details.
Elon Musk sells 7.92 million Tesla shares worth $6.88 billion
Elon Musk doesn’t want to deal with Twitter anymore to buy the company. He is the richest man in the world thanks to his electric car company Tesla. However, Six SEC filings emerged that Tesla CEO Musk sold more shares over the last few days. Musk had announced in his tweet that he wouldn’t sell another TSLA share after selling $8.4 billion in April.
Elon Musk and Twitter will head to trial on Oct. 17 if they don’t agree on a settlement. Musk would purchase Twitter at $44 billion, but he is trying to back out of the deal. Therefore, Twitter said about Musk was trying to get out of acquiring the company because his wealth had fallen, and the purchase has thus become more expensive.
A Tesla investor Sawyer Merritt replied to Elon Musk’s tweet about not selling more TSLA sales. He tweeted a count of Musk’s activity between August 5th and August 9th, showing Tesla’s CEO sold 7,924,107 shares worth about $6.9 billion by writing, “@elonmusk, are you done selling?”. Musk answered that tweet, “Yes. 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.”
Tesla had announced that the company had made a major investment in the world’s biggest cryptocurrency, Bitcoin. Then, the company revealed it sold 75% of its Bitcoin, worth about $2B at the end of 2021.