Elon Musk is selling $6.9 billion in Tesla stock

Elon Musk sold about $6.9 billion worth of Tesla stock, which he says was done if he needed to execute his deal to buy Twitter.

Musk, CEO of Tesla, completed the transactions between Aug. 5 and 9, SEC financial filings show. The first sale came a day after the electric car company’s annual shareholder meeting in Austin, Texas, CNBC reported.

In total, the world’s richest man sold 7.92 million Tesla shares, the report said.

said Musk on Twitter on Tuesday that he was done selling Tesla stock after being pushed by him another social media user.

“In the (hopefully unlikely) event that Twitter forces this deal *and* some equity partners don’t go through, it’s important to avoid a fire sale of Tesla stock,” he said.

But just four months earlier, he said the same thing.

In total, Elon Musk has sold 7.92 million Tesla shares so far.
In total, Elon Musk has sold 7.92 million Tesla shares so far.
Bloomberg via Getty Images

After selling $8.5 billion in Tesla stock to buy Twitter, he tweeted in April, he had no plans to sell anymore, according to Axios.

“No further TSLA sales are planned after today,” he replied in a tweet on April 28.

Musk and Twitter have been in a legal battle since he pulled out of an agreed deal to buy the social media giant.

Elon Musk has claimed on Twitter that he is done selling Tesla stock via Twitter.
Elon Musk has claimed on Twitter that he is done selling Tesla stock via Twitter.
REUTERS

Musk reversed course in July, accusing Twitter of failing or refusing to provide information about fake or spam accounts, also known as bots, on the platform.

Twitter sued him days later to force him to complete the deal, and Musk then countered.

Earlier this month, Musk challenged Twitter CEO Parag Agrawal to a “public debate over Twitter bot percentage.”

Elon Musk and Twitter are currently still in a legal battle, as the social media platform wants it to be "the richest man in the world" to close the deal.
Elon Musk and Twitter are currently locked in a legal battle as the social media platform wants the “richest man alive” to complete the deal.
REUTERS

According to Bloomberg, Musk has sold about $32 billion worth of Tesla stock over the past decade.

Musk too tweeted on Tuesday he would buy back Tesla stock if he didn’t have to buy Twitter.

Tesla stock closed at $850 a share on Tuesday.

https://nypost.com/2022/08/10/elon-musk-sells-6-9-billions-worth-of-tesla-stock/ Elon Musk is selling $6.9 billion in Tesla stock

JACLYN DIAZ

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