Musk Sells Nearly $7 Bn In Tesla Shares: Report

Musk is able to sell nearly $7 billion in Tesla shares report

San Francisco, Aug 10 : Electric vehicle maker Tesla CEO Elon Musk has sold 7.92 million shares of the company for $6.88 billion according to media reports.
Musk’s transactions took place between August 5 through August 9 The US Securities and Exchange Commission (SEC) documents reveal after Tesla’s 2022 annual shareholder gathering on August 4, in Austin, Texas, according to CNBC.

 Musk Sells Nearly $7 Bn In Tesla Shares: Report-TeluguStop.com

In the spring of this year the tech billionaire announced via social media he has “no more Tesla sales in mind” beyond April 28.

This week, SEC filings revealed Musk was selling an entire block of shares in his electric car maker for $8.4 billion.

Musk is in the middle of a legal dispute that has become a contentious one with Twitter the social media giant he has agreed to acquire in April for around $44 billion, or $54.20 per share.

In the face of a market downturn, Twitter’s shares as well as the price of Tesla shares fell.

Musk declared that he was ending the deal and was accused by Twitter of not providing him all the details he required to proceed with the deal.

He also claimed that Twitter of overstating the amount of bots, spammers and fake accounts that it has on its platform.

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