Elon Musk sells $6.9 billion worth of Tesla stock ahead of legal battle with Twitter

Elon Musk says he will keep supporting Dogecoin amid $258 billion lawsuit

In order to profit from a recent increase in the stock price of the electric vehicle manufacturer, Elon Musk sold $6.9 billion worth of shares of Tesla prior to the court case involving Twitter.



According to a number of regulatory filings with the SEC that were viewed on Tuesday.

READ ALSO
5 insights Agriculture must learn from Sports to gain and encourage youth participation and patronage

The transaction represents the first sale since the CEO of Tesla and SpaceX sold $8.5 billion worth of stock in April, just before Twitter was to be acquired for $44 billion.

In order to better manage Twitter’s demands to finalize the acquisition, he did this to improve his cash reserves.

READ ALSO
Dangote Now 63rd, Elon Musk Tops 100 Billionaires Ranking

Musk first embarked on significant stock sales late last year, with a large part of the proceeds from stock option exercises being paid in tax. At the time, he polled his followers on Twitter about whether they wanted him to sell part of his stock and pay tax, before going on to sell about $16.5billion worth of shares.

READ ALSO
2023: Atiku Abubakar says his administration will review import duty payable on raw materials




Stay Connected , follow us on: Facebook: @creebhillsdotcom, Twitter: @creebhillsblog, Instagram: @creebhills, Pinterest: @creebhills Telegram: creebhills

To place an advert/sponsored post on our site, contact us via [email protected]
Previous articleRegina Daniels reveals name of baby as she shares beautiful moment from newborn’s naming ceremony (video)
Next article#BBNaijaS7: Christy O makes first official statement days after being evicted (Video)
Pro Blogger, Online Content Developer with over 3 years of experience

LEAVE A REPLY

Please enter your comment!
Please enter your name here