Elon Musk Sold Tesla Shares

 Elon Musk has sold around 8 million Tesla shares worth $6.9 billion.

The billionaire Elon Musk embroiled in a legal battle with social networking giant Twitter, which it agreed to buy in April for $44 billion, or $54.20 per share.

Elon Musk the Tesla CEO sold 7.92 million Tesla shares for about $6.88 billion, according to various financial filings released Thursday.

According to SEC filings, their deal occurred between August 5 and 9, following Tesla's 2022 annual meeting on August 4 in Austin, Texas.

Earlier this year, CEOs of Tesla and SpaceX announced on social media that they have no plans to sell TSLA after April 28.

This week's SEC report revealed that Musk has sold his electrical business for $ 8.4 billion.

On July 8, Musk announced on Twitter that he would be canceling the deal. He accused Twitter of not providing all the necessary information on its platform to block and limit bots, spam and fake accounts.

Twitter has rejected a deal to buy Musk, saying the deal would be a loss for many shareholders.

When Musk's latest sale came out on Tuesday, Tesla fans and activists asked the CEO if he was selling part of the electric car business.

Asked why he was selling Tesla shares, Musk said: "Yes, it's important to avoid a sudden sale of Tesla shares if Twitter has to close the deal and not another (sudden) exit." Go."

Musk did not disclose the partnership as he feared that Twitter would affect his plans to invest in his company.

In early May, Musk received the support of 19 different partners, including Alwaleed bin Talal bin Abdulaziz Al Saud of Saudi Arabia, Qatar Holdings, Sequoia Ventures, DFG Fund, V Capital and cryptocurrency exchange Binance.

He also said that if he doesn't bother to buy Twitter, he will buy some of his shares. He added that he would consider launching his own social platform, X.com, if the Twitter deal goes through.

Tesla stock traded at its highs hours after the news. Tesla stock fell 2% to close at $850 on Tuesday after the SEC reported that Musk's internal earnings reached $7 billion.