Foreign

Multibillionaire Elon Musk Sells $7 Billion Worth Of Tesla Shares

Multibillionaire Elon Musk Sells $7 Billion Worth Of Tesla Shares

Multibillionaire Elon Musk Sells $7 Billion Worth Of Tesla Shares

Multibillionaire Elon Musk Sells $7 Billion Worth Of Tesla Shares

According to legal documents released on Tuesday, Elon Musk has sold over $7 billion worth of Tesla shares amid a contentious legal dispute with Twitter over a $44 billion purchase bid.

ALSO, READ Elon Musk’s Child Files Request To Change Name In Bid To Cut Ties With Tesla CEO

Approximately 7.9 million shares were sold by the Tesla CEO between August 5 and August 9, according to documents posted on the Securities and Exchange Commission’s website.

“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,” Musk, the world’s richest man wrote on Twitter late Tuesday.

Multibillionaire Elon Musk Sells $7 Billion Worth Of Tesla Shares

Twitter is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from the April agreement to buy the company, and a judge has ordered that a trial will begin in October.

Musk has filed a countersuit, accusing Twitter of fraud and alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout.

ALSO, READ Elon Musk, Tesla CEO, Accuses Twitter Of Fraud In Buyout Deal

The move comes after Musk sold around $8.5 billion worth of shares in the electric carmaker in April as he was preparing to finance the Twitter deal. He tweeted at the time: “No further TSLA sales planned after today.”


24SevenHUB.CO brings updates on the latest news, tech tips and information, job recruitments for Nigerians, foreigners and remote jobs for seekers, and much more… Here, you can read and share thoughts, ideas, and opinions and get real-time updates from around the globe.

Related Articles

Leave a Reply

Back to top button
error: Alert: Content is protected !!
%d bloggers like this: