Musk again sells for billions of Tesla shares

For the second time in a short time, Elon Musk is selling a large part of his shares in Tesla, which he founded. That while Musk stated in his previous share sale that he did not intend to sell any more shares. Musk is still doing it to have enough money to take over Twitter. For example, the richest man in the world is preparing for a possible mandatory purchase of the social networking company, if the judge decides that Musk must do so. In total, sales amount to almost €7 billion. It is one of Musk’s largest stock sales ever.

The Tesla CEO had planned to buy Twitter, but wants to cancel this to the dissatisfaction of the platform. A trial will follow on October 17. “In the (hopefully unlikely) event that Twitter forces the acquisition and some investors pull out, it’s important to avoid a forced sale of Tesla stock,” Musk tweeted. This is his last sale for the time being and the CEO will also buy shares again if the deal with Twitter does not go through, he answered questions from his followers.

The value of Tesla shares has fallen 20 percent this year, but has been on the rise since the low in May. Now they are worth 35 percent more than they were three months ago. As the share price fell, analysts warned that Musk would have “too little focus on Tesla,” which the company “needs so badly now because of increasingly fierce competition.”