The head of the electric car manufacturer has apparently sold another block of shares.
(Photo: AP)
new York Elon Musk has sold Tesla shares for an unprecedented $6.9 billion. The head of Tesla Inc. explained in a tweet that he needed the money in the event that Twitter Inc. forced him to take over the short message service despite his unwillingness. According to calculations by Reuters, he now owns almost 15 percent of the automaker.
“In the (hopefully unlikely) event that Twitter forces this deal to close and some equity investors don’t step in, it’s important to avoid a fire sale of Tesla shares,” Musk wrote Tuesday night after the sales were announced in a series of regulatory filings had been.
When asked by followers if he was done selling and would buy Tesla stock again if the $44 billion deal doesn’t go through, Musk replied, “Yes.”