The CEO of the automaker Tesla, Elon Musk, has sold some 6,900 million dollars (approximately 6752.93 million euros) in shares of his company in recent days, according to documents from the market regulator. In the midst of uncertainty about the fate of his legal claim for the purchase of Twitter, which may force him to pay 44,000 million dollars (about 43,060 million euros) for the social network, the billionaire decided to sell around 7.9 million actions between Friday and Tuesday. In this context, Tesla titles rise more than 2.8% in operations prior to the opening of the markets, while those of Twitter soar more than 3.6%.
This Tuesday, the billionaire stated on his Twitter account: “In the (hopefully unlikely) event that Twitter forces me to close this deal and some equity partners do not come through, it is important to avoid an emergency sale of Tesla stock.” Musk, however, detailed that if the deal with Twitter does not close, he would buy back shares of Tesla. the tycoon youHe also suggested that he could set up his own social media platform, X.com, if the deal falls through.
Following the sale, Musk retains a 15% stake in the company. The billionaire has accelerated sales over the past year, cashing in roughly $32 billion following sales of shares in the electric-vehicle maker. That includes about $8.5 billion of sales in April, as Musk sought financing to take over Twitter.
And it is. In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.
— Elon Musk (@elonmusk) August 10, 2022
Last week, Tesla shareholders cleared the way for a 3-for-1 stock split that the company says is designed to make ownership more accessible to employees and individual investors. The split will take effect on August 25 for shareholders of record on August 17, the company said last week.
