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HomeDigit NewsWhy Elon Musk Is Selling Billions of Dollars in Tesla Stock

Why Elon Musk Is Selling Billions of Dollars in Tesla Stock

According to The Wall Street Journal, citing US regulators, Tesla CEO and largest shareholder Elon Musk has sold nearly $7 billion worth of Tesla shares.

This comes amid uncertainty over the fate of his $44 billion Twitter deal. He sold shares in case the court ordered him to buy Twitter, so as not to rush to sell assets at a lower cost, the publication said. The shares were sold between Friday and Tuesday, leaving him with about 15% of the company’s shares.

At the end of April, Elon Musk sold $4 billion worth of Tesla shares amid an agreement with Twitter management to buy the company. In July, the entrepreneur refused to buy a social network due to the fact that Twitter, according to him, hides the real information about the number of fake accounts on the social network.

For refusing to complete the deal, Twitter filed a lawsuit against the billionaire. On August 6, the businessman said he was ready to make a deal if Twitter provided full information about the number of bots on the social network.

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