Musk sells Tesla shares worth $6.9 billion: Reports
10 August, 2022 | Simran Turak
In the middle of a heated legal dispute with Twitter over a $44 billion acquisition offer, Elon Musk is said to have sold nearly $7 billion worth of Tesla shares, according to media reports on Tues...
In the middle of a heated legal dispute with Twitter over a $44 billion acquisition offer, Elon Musk is said to have sold nearly $7 billion worth of Tesla shares, according to media reports on Tuesday.
According to sources, Elon Musk sold some 6.9 million shares of Tesla between August 5 and 9. Musk is owner of 155.04 million Tesla shares or just under 15% of the automaker.
The world’s richest man, Elon Musk, sold $8.5 billion worth of Tesla shares in April, and he had previously stated that no additional sales were planned. But since then, legal professionals have predicted that Musk would certainly sell more Tesla stock if he were forced to complete the acquisition or resolve the case with a severe fine.
Tesla CEO and Twitter are stuck in a court dispute over his attempt to renege on the April agreement to purchase the company. Judge has decided that the trial will start in October.
As per recent sales, Musk has now sold roughly $32 billion worth of Tesla stock in less than a year. On Tuesday, Musk also teased, that he could initiate his own social media platform.