back out of his agreement to purchase Twitter, the CEO sold almost $7 billion in Tesla stocks on Tuesday. He says the move was made to “avoid an emergency sale of Tesla stock” down the line.In new filings this week, it was revealed that Musk sold nearly eight million shares of Tesla stock, which were worth about $6.9 billion.
The move came as a surprise to some, as Musk tweeted back in April that there were “no further TSLA sales planned after today,” after he sold roughly $8.4 billion worth of stocks to fund his initial deal to buy Twitter.
When asked online if he was done selling for this week, Musk confirmed so, and noted that he only sold as much as he did as a contingency plan, in the event that he’s forced to follow through on the agreement he struck with the company back in April.“Yes.
In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” he wrote.Yes.
Read more on thewrap.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.