Agencies-Gaza post
Musk sells Tesla shares worth $7 billion for this reason!!!
Founder of Tesla, Elon Musk, sold 7.9 million shares of the company worth $6.88 billion, according to U.S. Securities Commission documents.
These documents show that the sale occurred on Friday, when Tesla’s share prices fell by 6.6%, as well as on Monday, when it showed a modest increase, by 0.8%, and on Tuesday when its price collapsed again by 2.4%.
Musk had earlier sold $4 billion worth of Tesla shares after reaching an agreement to buy the social media network “Twitter”, announcing that he would not later sell the automotive company’s shares in the future like he needed liberated money to finance part of the deal.
Musk agreed in April to buy Twitter for $44 billion but then asked to verify the company’s data that the number of fake accounts used, among other things, to send spam, was only 5%.
Musk later notified Twitter that he refused to buy this social media network, explaining that he was exercising his right to complete the agreement, noting that the social network had reduced the number of fake accounts, and also did not provide the necessary information.
The social network then sued businessman Musk in Delaware State Court.
Tesla Motors was founded in 2003 as a developer and manufacturer of electric vehicles and related technologies.
In addition to electric vehicles, the company manufactures batteries and electric motors using its own technology and sells them to other car companies, in particular Toyota and Daimler.
