Tesla: Elon Musk sells $7bn stake
(CercleFinance.com) - Last night Elon Musk announced, in a document sent to the SEC, a sale of Tesla shares totaling seven billion dollars, according to Wedbush, in its comments on Twitter on which it maintains a "neutral" rating.
Musk then said that this sale was the last one and carried out in the (fortunately unlikely) event that Twitter forced the transaction to be finalised (i.e. Elon Musk's takeover of Twitter) and that certain financial partners did not follow suit, the broker reports.
The sale of Tesla shares would therefore be a precautionary measure for the South African-born billionaire, aimed at avoiding an emergency sale of shares in the electric car manufacturer to finance the takeover of the microblogging platform.
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