World’s Richest Man, Elon Musk, has reportedly dumped nearly $7 Billion worth of his automobile manufacturing company, Tesla Inc., stocks in recent days as his problematic Twitter buyout agreement still hangs in limbo.

Elon Musk who happens to be Tesla’s largest shareholder now currently has just 15% of Tesla shares after selling more than 17% of his stake worth around $6.9 billion between Friday and Tuesday.

This is not the first time Elon has sold off his Tesla shares. In the past ten months, Elon Musk has sold off roughly $32 Billion worth of his shares in the international electric vehicle manufacturers. In April alone, he sold $8.5 Billion of Tesla stock to finance his Twitter takeover bid.

Addressing his selling spree, Elon tweeted earlier that he doesn’t plan to sell any more Tesla shares after that day. Since then, the relationship between Musk and Twitter had soared. However, this doesn’t hide the fact that Twitter’s Q2 2022 figures didn’t do well.

Twitter publicly held Elon Musk accountable for casting doubts over the highly-anticipated pre-agreed purchase deal. Twitter also went forward to sue Elon Musk for failing to compete the $44 Billion deal and the case is scheduled for October.

If the judge forces Musk to close the deal, he may be forced to pay an additional $33 Billion in financing the equities connected to the regulatory filing. Currently, Elon Musk owns 9% of Twitter.


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    Felix Aikhuele
    August 11, 2022

    It’s business. He sells and buys back i suppose. A whale game strategy

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