Home Business Cloud Elon Musk Sold Tesla Shares Worth $6.88bn

Elon Musk Sold Tesla Shares Worth $6.88bn

What Did Elon Musk Urge?
Photo: Collected

Elon Musk, CEO of Tesla, sold another 79,20,000 shares of Tesla. The shares are worth about $6.88 billion. The shares were sold after the electric car maker’s annual shareholder meeting. So, the article is about Elon Musk Sold Tesla Shares Worth $6.88bn.

The world’s top billionaire, Elon Musk, said he would need money if forced to acquire Twitter for $4,400 million. Elon Musk is currently embroiled in a legal battle over his purchase of the social media platform. First, he announced the suspension of the Twitter acquisition due to data complications related to spam and fake accounts. When Twitter filed a lawsuit against this decision, Mr. Musk also filed a lawsuit against the organization as a countermeasure.

Meanwhile, according to six filings with the US Securities and Exchange Commission, Tesla’s latest share transactions were made on August 5, 8, and 9. In April 2022, Mr. Musk got an acquisition agreement with Twitter at $54.20 per share in a transaction esteemed at approximately $44 billion. However, he put the contract on hold in May 2022 to authorize his team to verify the veracity of Twitter’s statement that less than 5 percent of accounts on the platform are bots or spam.

In June 2022, Mr. Musk blamed the microblogging website for breaching the merger deal and threatened to walk away and close the acquisition of the social media company for not delivering the information he urged on spam and fake accounts. He alleged that Twitter is actively revolting and thwarting his information rights as outlined by the contract, citing the letter he sent to Twitter’s head of legal, policy, and trust, Vijaya Gadde. Analysts believe that the money to buy the microblogging site is selling shares.

To read more Business news, Please Click Here!


Please enter your comment!
Please enter your name here