Elon Musk Sells Tesla Shares Worth Roughly $7 Billion, Confirms Regulatory Filing

Elon Musk sells millions of Tesla shares worth roughly a cool $7 billion, recent regulatory filings confirmed.

It comes months after the Chief Executive Officer of the giant electric vehicle (EV) maker stated last April that he has no further plans to sell more Tesla stocks.

Elon Musk Sells Tesla Shares Worth $7 Million

But this time, as per a news story by CNBC, the big boss of Tesla and SpaceX have been selling millions of TLSA shares this August.

To be more precise, a series of regulatory filings have confirmed that the mega-billionaire has disposed of 7.92 million Tesla shares. And in total, Musk has sold Tesla shares worth roughly a staggering $6.88 billion.

The tech entrepreneur started selling millions of Tesla shares last August 5. He then disposed of another bulk last Aug. 9.

CNBC notes in its report that Musk started selling Tesla shares a day after the annual shareholder meeting in Austin, Texas on Aug. 4.

Meanwhile, according to a recent report by Tech Crunch, Musk says he is already done selling Tesla shares for now.

The chief executive tweets that "it is important to avoid an emergency sale of Tesla stock" if Twitter forces him to close the deal, which he had terminated just last month.

Tesla's Elon Musk vs. Twitter

The latest move of the wealthiest man in the world is amidst his ongoing legal battle against the giant social media platform, Twitter.

It is worth noting that in April, Musk agreed to buy Twitter for roughly $44 billion.

However, Musk has recently backtracked and abruptly terminated the deals with Twitter. The tech exec then accused the social media giant of failing to provide necessary information for him to proceed with the acquisition.

The Tesla boss went on to boldly accuse Twitter of giving him inaccurate numbers of bot accounts on the platform.

And as such, the tech billionaire officially terminated the deal to acquire Twitter last July 8.

Tesla Shares Sold

It is the first time that Musk sold Tesla shares since he disposed of a huge bulk last April.

But Tech Crunch highlighted that the entrepreneur has already sold roughly a whopping $32 billion worth of Tesla stocks in the last ten months.

Last April, Musk sold a total of 9.6 million shares of the renowned automaker, which amounts to around $8.5 billion.

It turns out that the latest billion worth of Tesla stock sales are related to his ongoing legal battle versus Twitter, no less than Musk himself has confirmed.

This article is owned by Tech Times

Written by Teejay Boris