Tuesday, April 23, 2024
HomeAutomobileElon Musk sells 7.92 million Tesla shares value $6.88 billion

Elon Musk sells 7.92 million Tesla shares value $6.88 billion

Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Trend” at The Metropolitan Museum of Artwork on Could 02, 2022 in New York Metropolis. (Photograph by Dimitrios Kambouris/Getty Photographs for The Met Museum/Vogue)

Dimitrios Kambouris | Getty Photographs Leisure | Getty Photographs

Tesla CEO Elon Musk offered 7.92 million shares of Tesla value round $6.88 billion, in line with a collection of monetary filings printed Tuesday evening.

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 yr, the Tesla and SpaceX CEO stated on social media that he had “no further TSLA sales planned” after April 28.

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

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

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Amid an total market decline, Twitter’s share worth and the value of Tesla shares dropped. Musk stated he was terminating the deal and accused Twitter of failing to provide him all the data he wanted to go forward with the acquisition.

He additionally accused Twitter of understating the variety of bots, spam and faux accounts on its platform.

By July 8, Musk told Twitter he was terminating the deal.

Twitter has sued to ensure the Musk deal goes through for the promised worth, which might symbolize a windfall for a lot of of its shareholders.

Tesla shares have been buying and selling almost flat after hours on the information. Shares in Tesla closed at $850, down simply over 2% for the day on Tuesday, earlier than the CEO’s insider gross sales have been made public by way of SEC filings.

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