Elon Musk Offloads $6.9 Billion In Tesla stock In Latest Sale. He said he did this in case he had to go through with his plan to buy Twitter.
The transactions were made by Musk, who is the CEO of Tesla, between August 5 and August 9, SEC financial filings show. CNBC said that the first sale happened a day after the electric car company’s annual meeting of shareholders in Austin, Texas.
The report said that the richest person in the world sold 7.92 million shares of Tesla stock.
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After being asked by another social media user, Musk said Tuesday on Twitter that he was done selling Tesla stock.
“It is important to avoid an emergency sale of Tesla stock in the (hopefully unlikely) case that Twitter forces this deal to close and some equity partners don’t show up,” he said.
But he said the same thing just four months before.
Axios says that when he tried to buy Twitter, he sold $8.5 billion worth of Tesla stock. In April, he tweeted that he had no plans to sell anymore.
In a tweet on April 28, he said, “No more TESLA sales are planned after today.”
Since Musk backed out of a deal to buy Twitter, the social media giant, he and Twitter have been in court.
Musk changed his mind in July and said that Twitter didn’t do enough or wouldn’t tell him about fake or spam accounts, also called “bots,” on the site.
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Twitter sued him a few days later to make him finish the deal, and Musk then sued Twitter back.
Musk asked Twitter CEO Parag Agrawal for a “public debate about the percentage of Twitter bots” earlier this month. Bloomberg said that in the last ten months, Musk has sold about $32 billion worth of Tesla stock.
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