ElonMusk has sold nearly 8 million Tesla shares worth almost $7 billion 'to avoid an emergency sale of Tesla stock” if Twitter forces him to close the $44 billion deal. $TSLA
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.Tesla and Spacex CEO Elon Musk has sold 7,924,107 shares of Tesla , according to a filing with the U.S. Securities and Exchange Commission Tuesday night. The transactions took place on Aug. 5, 8, and 9. At the time of writing, the sales amounted to $6.
Musk confirmed on Twitter that he is done selling Tesla stock in reply to a Tesla investor’s tweet. The billionaire added: “In the 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.”In May, the billionairethat he had secured funding from 18 companies to purchase Twitter, including Sequoia Capital Fund, Binance, AH Capital Management , and Fidelity.
Musk does not sell Tesla shares often. Prior to the latest transactions, he sold 9.6 million Tesla shares in April, worth about $8.5 billion at a time. After the sale, the Tesla and Spacex boss tweeted on April 28 that he had “No further TSLA sales planned.”
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