Elon Musk Sells 7.9 Million Tesla Shares
Elon Musk has sold over 7.9 million Tesla shares. According to filings with the Securities and Exchange Commission, the sales began on Friday and ended yesterday and mark the first sale of Tesla shares by Musk since April when he sold 9.6 million shares. Those sales came within days of Musk announcing his deal to buy Twitter for $44 billion. Musk did not disclose the reason for the recent stock sale but in a Tweet said “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.” Musk still owns 155 million shares and has options to buy nearly 100 million more at a fraction of current prices.