The head of the electric car manufacturer has apparently sold another block of shares.
(Photo: AP)
new York Tesla boss Elon Musk has sold shares in the electric car maker worth $6.9 billion. Between Aug. 5 and Aug. 9, it sold about 7.92 million shares, according to filings Tesla filed with the SEC. According to calculations by the Reuters news agency, Musk now owns almost 15 percent of the automaker.
The funds could be used to fund a possible Twitter takeover if he loses the legal battle with the social media platform, he explained. “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t go along with it, it’s important to avoid a fire sale of Tesla shares,” he wrote in a tweet late Tuesday night after the sales in a number of mandatory notifications had been announced. Further sales are not planned.
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