Tesla CEO Elon Musk sold 7.92 million shares of Tesla worth around $6.88 billion, according to a series of financial filings published with SEC on Tuesday night. In April, Musk had said that “no further TSLA sales planned,” after he sold $8.5 billion worth of Tesla shares – sales likely aimed at helping finance his planned purchase of Twitter Inc.
According to the stock market filing, Tesla’s chief offloaded the shares between August 5 and August 9. After the latest stock sale, he now owns 155.04 million shares in Tesla.
Last week, after a mini hiatus from Twitter polls, was back with a new one on Saturday amid the ongoing legal battle with the social media giant. “Less than 5% of Twitter daily users are fake/spam,” Musk had tweeted. This poll was taken by about 8.22 lakh Twitter users.
This latest Twitter poll comes amidst of a month long ongoing dispute with the micro blogging platform that began after Musk made a $44 billion offer to buy Twitter and then rescinded it, blaming it on the number of spam or bot accounts on the site.
SpaceX chief had alleged that Twitter had not properly disclosed the number of bots on the site for which he was terminating the deal.
Musk, 51, went on to say that if Twitter CEO Parag Agrawal can prove the actual number of fake accounts, then the terminated deal can still move forward.
“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted.
On July 9, Musk had said that he was pulling out of the $44-billion Twitter deal, three months after he signed an agreement to buy and make the microblogging platform private. In his filing to the US Securities and Exchange Commission, Musk said that Twitter did not provide him enough information on fake accounts on the platform, adding that the company was breaching “multiple provisions of the agreement”.
After this, Twitter fired back at Elon Musk accusing him of “knowingly” breaching an agreement to buy the social media firm.
legal experts have suggested that if Musk loses his battle against Twitter and is forced to complete the acquisition or pay a stiff penalty, he could conceivably have to sell more Tesla shares.
Later, in a cor order, Twitter and Elon Musk were ordered Tuesday to trial in October over whether the Tesla chief can be forced to complete his $44 billion deal to buy the social network
Legal experts have suggested that if Musk loses his battle against Twitter and is forced to complete the acquisition or pay a stiff penalty, he could conceivably have to sell more Tesla shares, a Reuters report said.
Twitter Stock
Tesla shares have risen nearly 15 per cent since the automaker reported better-than-expected earnings on July 20, also helped by the Biden administration’s climate bill that aims to lift the cap on tax credits for electric vehicles. Tesla shares have risen about 35 per cent from recent lows reached in May, though are still down about 20 per cent this year.
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