{"id":13510,"date":"2022-08-10T19:55:45","date_gmt":"2022-08-10T19:55:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-sells-tesla-shares-worth-nearly-7-billion-plans-to-buy-tsla-stock-back-if-twitter-deal-falls-through-featured-bitcoin-news\/"},"modified":"2022-08-10T19:55:45","modified_gmt":"2022-08-10T19:55:45","slug":"elon-musk-sells-tesla-shares-worth-nearly-7-billion-plans-to-buy-tsla-stock-back-if-twitter-deal-falls-through-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-sells-tesla-shares-worth-nearly-7-billion-plans-to-buy-tsla-stock-back-if-twitter-deal-falls-through-featured-bitcoin-news\/","title":{"rendered":"Elon Musk Sells Tesla Shares Worth Nearly $7 Billion \u2014 Plans to Buy TSLA Stock Back if Twitter Deal Falls Through \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Elon Musk has sold nearly 8 million Tesla shares worth almost $7 billion. \u201cIt is important to avoid an emergency sale of Tesla stock\u201d if Twitter forces him to close the $44 billion deal to buy the social media platform, the Tesla CEO stressed.<\/strong><\/p>\n

Elon Musk Sells Nearly 8 Million TSLA Shares<\/h2>\n

Tesla and Spacex CEO Elon Musk has sold 7,924,107 shares of Tesla (Nasdaq: TSLA), according to a filing with the U.S. Securities and Exchange Commission (SEC) Tuesday night. The transactions took place on Aug. 5, 8, and 9. At the time of writing, the sales amounted to $6.86 billion.<\/p>\n

Musk confirmed on Twitter that he is done selling Tesla stock in reply to a Tesla investor\u2019s tweet. The billionaire added: \u201cIn the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don\u2019t come through, it is important to avoid an emergency sale of Tesla stock.\u201d<\/p>\n

\"Elon<\/a><\/p>\n

Musk also said that if the Twitter deal does not close, he will buy Tesla stock again.<\/p>\n

In May, the billionaire revealed<\/a> that he had secured funding from 18 companies to purchase Twitter, including Sequoia Capital Fund, Binance, AH Capital Management (aka Andreessen Horowitz, a16z), and Fidelity.<\/p>\n

Musk does not sell Tesla shares often. Prior to the latest transactions, he sold 9.6 million Tesla shares in April, worth about $8.5 billion at a time. After the sale, the Tesla and Spacex boss tweeted on April 28 that he had \u201cNo further TSLA sales planned.\u201d<\/p>\n

Musk made an offer to buy Twitter Inc. for about $44 billion<\/a> in April. However, the billionaire officially terminated<\/a> the deal in early July, claiming that \u201cTwitter is in material breach of multiple provisions of that agreement.\u201d<\/p>\n

Twitter sued<\/a> Musk to force him to go through with the deal. The Tesla CEO filed a countersuit<\/a> against Twitter, accusing the social media giant of fraud. At the heart of the dispute is Twitter\u2019s claim that only less than 5% of its daily users are fake or spam accounts. Musk disagreed and has challenged<\/a> Twitter CEO Parag Agrawal to a public debate over the platform\u2019s bot and spam users.<\/p>\n

Replying to a tweet asking him if he had considered creating his own social platform if the Twitter deal does not come through, Musk wrote: \u201cX.com.\u201d<\/p>\n

\"Elon<\/a><\/p>\n

What do you think about Elon Musk selling nearly 8 million Tesla shares? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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