Elon Musk Sells $6.88 Billion in Tesla Shares

Video Credit: Wibbitz Top Stories
Published on August 10, 2022 - Duration: 01:31s

Elon Musk Sells $6.88 Billion in Tesla Shares

Elon Musk , Sells $6.88 Billion , in Tesla Shares.

NBC reports that Elon Musk has sold 7.92 million shares of Tesla for an estimated $6.88 billion.

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NBC reports that Elon Musk has sold 7.92 million shares of Tesla for an estimated $6.88 billion.

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The transactions were revealed through a series of financial filings published August 9.

According to SEC filings, Musk sold the shares shortly after Tesla's 2022 annual shareholders meeting on August 4 in Austin, Texas.

The decision to sell those stocks comes amid a contentious legal battle over his $44 billion bid to purchase Twitter.

The decision to sell those stocks comes amid a contentious legal battle over his $44 billion bid to purchase Twitter.

In July, Musk terminated the deal, accusing Twitter of failing to provide information and understating the number of bots on the social media platform.

In July, Musk terminated the deal, accusing Twitter of failing to provide information and understating the number of bots on the social media platform.

In response, Twitter has sued Musk to complete the deal for the promised $44 billion.

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In response, Twitter has sued Musk to complete the deal for the promised $44 billion.

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According to NBC, this would represent a windfall for many of Twitter's shareholders.

According to NBC, this would represent a windfall for many of Twitter's shareholders.

Musk reportedly said that he would purchase some of his Tesla shares back if he doesn't have to complete the Twitter deal.

Musk reportedly said that he would purchase some of his Tesla shares back if he doesn't have to complete the Twitter deal.

NBC reports that Musk has also suggested that he is considering launching his own social platform, X.com.

NBC reports that Musk has also suggested that he is considering launching his own social platform, X.com.

Following news of Musk shedding Tesla stock, shares in the company closed at $850, down over 2% for the day.

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Following news of Musk shedding Tesla stock, shares in the company closed at $850, down over 2% for the day.


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