Elon Musk Sells 7.92 Million Tesla Shares
According to a series of financial filings published on Tuesday, Tesla CEO and multi-billionaire Elon Musk has sold 7.92 million shares of Tesla, understood to be worth approximately $6.88 billion.
The SEC filings show Musk’s transactions occurred between August 5 and August 9, shortly following the electric vehicle company’s 2022 annual shareholder meeting on August 4 in Texas.
Previously, Musk had announced on social media that he had “no further TSLA sales planned” after April 28.
The CEO’s latest stock move has prompted supporters of the EV brand to question if Musk is now truly finished selling Tesla shares and if he might repurchase the shares in the future.
In response, Musk said, “Yes. In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”