Despite being the richest person in the world with an estimated personal fortune of $250 billion, Musk’s wealth is largely comprised of Tesla shares. He sold around 7.92 million of these shares between August 5 and August 9, for a total value of nearly $6.9 billion, according to many SEC filings.
After unloading $8.4 billion worth of Tesla shares in the same month, money that was intended to be used to help finance the Twitter purchase, Musk said at the end of April that he had no plans to sell any more of his company’s stock.
Tesla investor Sawyer Merritt tweeted earlier today that SEC documents showed Musk had sold millions more shares and questioned the CEO about whether he was done selling.
Musk said, “Yes.” “It is crucial to prevent an emergency sale of Tesla shares in the (hopefully improbable) event that Twitter compels this deal to close *and* certain equity partners don’t come through.” In a subsequent tweet, he declared that, in the event that the Twitter acquisition falls through, he will repurchase Tesla stock.
In order to assist finance the $44 billion buyout of Twitter, Musk already obtained $7 billion from Larry Ellison, Binance, the Qatar state investment fund, Morgan Stanley, and a number of other sources.
Early in July, he terminated the contract due to his long-standing allegation that the business is lying about the amount of phoney accounts on the site. It states there are fewer than 5%, while Musk thinks there are more like 20%.
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