Musk sells a large block of Tesla shares to complete the Twitter purchase

Elon Musk, CEO of Tesla, has sold shares of the company for a value of 6,500 million dollars in the last three market days, as reported by the stock market regulator.

Thomas Osborne
Thomas Osborne
15 August 2022 Monday 01:01
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Musk sells a large block of Tesla shares to complete the Twitter purchase

Elon Musk, CEO of Tesla, has sold shares of the company for a value of 6,500 million dollars in the last three market days, as reported by the stock market regulator. Specifically, on the days of August 5, 8 and 9, he sold more than 7.5 million shares of Tesla.

Despite this operation, Musk still has 155 million shares of the electric vehicle brand, with a market value at the close of trading on Tuesday of $131 billion. In the last ten months, the sales of these assets amount to 32,000 million dollars with which it has faced various operations in other sectors.

This new injection of liquidity will allow Musk to finally close the deal to take over Twitter for 44,000 million dollars, which he broke in early July. The businessman, however, demands that the company provide him with details about the fake accounts that operate on the social network.

"If Twitter just facilitates its method of sampling 100 accounts and how they are confirmed to be real, the deal should continue on its original terms," ​​Musk recently tweeted.

Musk notified in early July his intention to cancel the purchase of the technology company, already agreed between both parties, to which the latter responded with a lawsuit in a commercial court to force him to complete the operation.

If the operation is not closed or an agreement is reached, the trial to resolve the dispute will begin on October 17. The board of directors of Twitter 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.