Musk now owns 155 million Tesla shares and an option to buy another 100 million at a reduced price. Together, this is more than 20% of Tesla shares.
American businessman Elon Musk sold 7.9 million Tesla shares in the past few days, receiving about $6.9 billion for them. This was reported on the website of the US Securities and Exchange Commission (SEC) on Wednesday, August 10.
Musk last sold Tesla shares in April (4.4 million shares for $4 billion) when he planned to buy the social network Twitter. He later abandoned this pursuit, but Twitter sued, demanding that the deal be completed on April terms.
The SEC report did not state the reasons for the current sale of Tesla shares, but Musk confirmed on the social network that he needs money in case he is forced to buy Twitter.
“In the (hopefully unlikely) event that Twitter forces this deal to end *and* some partners don’t show up, it’s important to avoid emergency sales of Tesla stock,” Musk tweeted.
It is known that Elon Musk planned to raise money from 19 partners to acquire Twitter. Among them are Qatari Holding, Sequoia venture capital companies, DFJ fund, Vy Capital, Binance crypto exchange and others.
Musk now owns 155 million Tesla shares and an option to buy another 100 million at a reduced price. In total, this is more than 20% of Tesla shares.
Recall that in early April, Elon Musk opened a new Tesla plant in Texas and introduced the final version of the Tesla Cybertruck pickup truck.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.