Elon Musk has sold more than $7.000 billion worth of Tesla shares, causing the stock price to plummet.
In the middle of the legal battle over the failed purchase of Twitter, Elon Musk has sold 7,9 million Tesla shares, the electric car manufacturing company of which he is currently CEO.
The sale of these almost 8 million shares has had a value of more than 7.000 billion dollars and has left Musk with just a 15% stake in Tesla.
Elon Musk had accumulated $32.000 billion in stocks of the company, according to information from The Wall Street Journal.
However, last April, the richest man in the world made a sale of more than $8.000 billion worth of shares in the electric car company. At the time, the businessman declared that he had already would not make further sales of Tesla shares, although it seems that the legal battle he is fighting over the purchase of Twitter may have made him reconsider this decision.
As expected, when the news was known, the tesla stock collapsed. The past On August 4, TSLA shares were trading at $938 each.However, at the time of writing this news the price is at $833, a loss of $100 in just one week.
This Tesla stock sell-off joins the sale of Almost all Bitcoin which the company held in its treasury and which, according to Elon Musk himself, was sold so that the company could focus on its real objectives.
The Elon Musk and Twitter soap opera
Elon Musk's stock sale comes amid the Uncertainty over the purchase of the social network Twitter by the businessman. Initially, Musk reached a agreement with Twitter to buy the company for around 44.000 billion dollars, although after several controversies, the agreement remains up in the air and nothing is known about its future.
It all started in April, when it became public that Elon Musk had bought shares in the social network, accessing the 9,2% of the company's ownership.
At that time, an initial purchase offer was made and, after several days of negotiation, an agreement was reached. $44.000 billion sale agreementHowever, two months later, Musk backed down, alleging omissions by the social network's board of directors, arguing that They never offered real information about the number of fake accounts and bots.
At the time, Musk and Twitter engaged in a process of lawsuits and countersuits that continues to this day.
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