Musk sold Tesla shares for about .5 billion in three days

Musk sold Tesla shares for about $6.5 billion in three days

Washington (Globe Live Media) – The billionaire CEO of Tesla, Elon Musk, sold shares of his company worth about 6,500 million dollars in the past three days, according to documents published this Tuesday by the US stock market regulator.

On the days of August 5, 8 and 9, Musk sold more than 7.5 million shares of Tesla, with a total market value of approximately 6.5 billion dollars, for reasons unknown at the time.

Despite these sales, the South African billionaire still has 155 million shares of the electric vehicle manufacturer in his possession, with a market value at the end of the day on Tuesday of 131,000 million dollars.

Musk said last weekend that the $44 billion Twitter deal, which he broke in early July, could be closed if the company provides him with details on how it estimates the number of fake or “spam” accounts.

“If Twitter simply facilitates its method of sampling 100 accounts and how they are confirmed to be real, the deal should continue on its original terms,” ​​Musk said in a post on Twitter.

The businessman, meanwhile, stressed that if, on the contrary, it is shown that the information offered by Twitter to the regulators is false, the operation could not be closed as agreed.

Musk notified in early July his intention to cancel the purchase of the technology company, agreed between the two parties for 44,000 million, to which the latter responded with a lawsuit in a court specialized in commercial disputes to force him to complete the operation.

The argument of the person in charge of Tesla is that the social network did not give him the figures on false accounts that he required, while Twitter assures that this is only a pretext to avoid completing the operation, which is becoming less and less attractive due to the drop in the listing of the company and the loss of Musk’s assets as a result of the fall in the stock markets.

The trial to resolve the dispute will begin on October 17 unless both sides agree on another date, according to case documents made public so far.

Twitter’s board of directors has invited its shareholders to vote on the purchase on September 13 and has asked them to give the green light to the operation as the last step to close it, although it acknowledged that it also depends on the “pending litigation” with the millionaire.

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