Controversy Erupts as Tesla and SpaceX C.E.O Elon Musk sells 7.92 million shares worth $6.88 billion

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Earlier this year, the Tesla and SpaceX CEO said on social media that he had “no further TSLA sales planned” after April 28.

 

After Musk’s latest stock sales were revealed, Tesla fans and promoters asked the celebrity CEO if he was done selling shares in the electric vehicle business and if he might buy shares back in the future.

Asked if he was done selling Tesla shares, Musk replied: “Yes. 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.”

Tesla CEO Elon Musk sold 7.92 million shares of Tesla worth around $6.88 billion, according to a series of financial filings published Tuesday night.

 

His transactions occurred between Aug. 5 and 9, the SEC filings revealed, following Tesla’s 2022 annual shareholder meeting on Aug. 4 in Austin, Texas.

Earlier this year, the Tesla and SpaceX CEO said on social media that he had “no further TSLA sales planned” after April 28.

 

That week, SEC filings revealed Musk had been selling a block of shares in his electric car maker worth about $8.4 billion.

The centi-billionaire is in the midst of a contentious legal battle with Twitter, the social networking giant he agreed to acquire in April for about $44 billion or $54.20 per share.

 

Source: CNBC

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