Image: Reuters Berita 24 English - Elon Musk , the CEO of Tesla Inc., sold $6.9 billion worth of the company's shares in a tweet statin...
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| Image: Reuters |
Berita 24 English - Elon Musk, the CEO of Tesla Inc., sold $6.9 billion worth of the company's shares in a tweet stating that it was crucial to avoid an emergency sale of Tesla stock in the midst of a court dispute with Twitter Inc. over a $44 billion takeover offer.
Musk, the richest man in the world, sold $8.5 billion worth of shares in Tesla back in April and then declared that "no future TSLA sales were planned."
But legal professionals have said that Musk would need to sell more Tesla shares if he loses his case against Twitter and is required to complete the acquisition or pay a heavy fine.
Musk tore up the contract he signed on April 25 to purchase the social media company, and now the two parties are locked in a protracted legal dispute that might possibly cost Musk billions of dollars. On October 17, the two parties will go on trial.
According to many papers, Musk sold 7.92 million shares of stock in his most recent offering between August 5 and August 9. He currently holds 155.04 million Tesla shares.
With the most recent sales, Musk has now sold nearly $32 billion worth of stock in less than a year.
