According to a number of regulatory documents made by the firm, Elon Musk, richest man in the world, sold 7.92 million shares of Tesla Inc. for around $6.88 billion.
Elon Musk, CEO of Tesla Inc., sold about 7.92 million shares of the business between August 5 and August 9, according to the Securities and Exchange Commission (SEC). Just a few months after saying he wouldn’t sell any more Tesla stock, Musk sold shares of the firm.
Musk had stated in a tweet on April 29 that there will be “no additional TSLA sales planned after today.”
This year, the share price of Tesla has fallen by around 30%. On Tuesday, the stock traded at about $850.
A contentious legal dispute between Musk and the microblogging platform Twitter is ongoing. However, Twitter just filed a lawsuit after Musk opted to pull out of the $44 billion acquisition offer.
In a pact worth around $44 billion, Musk and Twitter agreed to be acquired in April at a price of $54.20 per share. Musk, though, placed the agreement on hold in May so that his team could examine Twitter’s assertion that less than 5% of accounts on the network are spam or bots.
Back in June, Musk publicly charged the microblogging platform with violating the terms of the merger agreement and threatened to walk away and cancel the purchase of the social media firm if it did not give him the information he had asked for about spam and phoney accounts.
