Last Updated: August 10, 2022, 08:46 IST
FILE PHOTO: An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Tesla CEO Elon Musk sold 7.92 million shares of Tesla worth around $6.88 billion
Tesla CEO Elon Musk sold 7.92 million shares of Tesla worth around $6.88 billion, according to a series of financial filings published with SEC on Tuesday night. In April, Musk had said that “no further TSLA sales planned,” after he sold $8.5 billion worth of Tesla shares – sales likely aimed at helping finance his planned purchase of Twitter Inc.
According to the stock market filing, Tesla’s chief offloaded the shares between August 5 and August 9. After the latest stock sale, he now owns 155.04 million shares in Tesla.
Tesla shares have risen nearly 15 per cent since the automaker reported better-than-expected earnings on July 20, also helped by the Biden administration’s climate bill that aims to lift the cap on tax credits for electric vehicles. Tesla shares have risen about 35 per cent from recent lows reached in May, though are still down about 20 per cent this year.
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