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Elon Musk sells 7.92 million Tesla shares worth $6.88 billion

NEW YORK, NEW YORK – May 2: Elon Musk attends the 2022 Met Gala “In America: An Anthology of Fashion” at the Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Dimitrios Kambouris / Getty Images for The Met Museum / Vogue)

Dimitrios Kambouris | Getty Images Entertainment | beautiful pictures

Tesla CEO Elon Musk sold 7.92 million Tesla shares worth about $6.88 billion, according to a series of financial filings released Tuesday night.

His transactions occurred between August 5 and 9, SEC filings reveal, after Tesla’s 2022. Annual shareholders meeting on August 4 in Austin, Texas.

Earlier this year, the CEO of Tesla and SpaceX said on social media that he has “no more plans to sell TSLA” after April 28.

That week, the SEC file revealed Musk sold a His stake in the electric car maker is worth about about $8.4 billion.

The dollar billionaire is in the midst of a controversial legal battle with Twitter, the social networking giant he agreed to buy back in April for about $44 billion or $54.20 per share.

Read more about electric vehicles from CNBC Pro

Amid the overall market decline, Twitter stock price and Tesla stock price both fell. Musk said he was terminating the contract and accused Twitter of not providing him with all the information needed to proceed with the acquisition.

He also accused Twitter of underestimating the number of bots, spam and fake accounts on its platform.

Until July 8, year Musk tells Twitter he’s terminating the deal.

Twitter sued to make sure Musk’s deal went through at the promised price, which will be profitable for many of the company’s shareholders.

Tesla stock has been trading mostly sideways hours after the news. Tesla shares closed at $850, down just over 2% on Tuesday, before the CEO’s internal sales were made public through SEC filings.

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