Home Business Elon Musk Sells Tesla Shares Worth $6.88 Billion

Elon Musk Sells Tesla Shares Worth $6.88 Billion

Elon Musk Sells Tesla Shares Worth $6.88 Billion


Tesla CEO Elon Musk sold 7.92 million shares of Tesla worth around $6.88 billion, according to a series of financial filings published with SEC on Tuesday night. In April, Musk had said that “no further TSLA sales planned,” after he sold $8.5 billion worth of Tesla shares – sales likely aimed at helping finance his planned purchase of Twitter Inc.

According to the stock market filing, Tesla’s chief offloaded the shares between August 5 and August 9. After the latest stock sale, he now owns 155.04 million shares in Tesla.

Last week, after a mini hiatus from Twitter polls, was back with a new one on Saturday amid the ongoing legal battle with the social media giant. “Less than 5% of Twitter daily users are fake/spam,” Musk had tweeted. This poll was taken by about 8.22 lakh Twitter users.

This latest Twitter poll comes amidst of a month long ongoing dispute with the micro blogging platform that began after Musk made a $44 billion offer to buy Twitter and then rescinded it, blaming it on the number of spam or bot accounts on the site.

SpaceX chief had alleged that Twitter had not properly disclosed the number of bots on the site for which he was terminating the deal.

Musk, 51, went on to say that if Twitter CEO Parag Agrawal can prove the actual number of fake accounts, then the terminated deal can still move forward.

“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted.

Twitter Stock

Tesla shares have risen nearly 15 per cent since the automaker reported better-than-expected earnings on July 20, also helped by the Biden administration’s climate bill that aims to lift the cap on tax credits for electric vehicles. Tesla shares have risen about 35 per cent from recent lows reached in May, though are still down about 20 per cent this year.

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