Tesla (TSLA) chief executive officer (CEO) Elon Musk has sold 7.92 million shares of the
electric vehicle maker worth $6.88 billion U.S., according to a regulatory filing.
Musk sold the shares in Tesla between August 5 and 9, regulatory filings with the U.S.
Securities and Exchange Commission (SEC) show.
The stock was sold after Tesla’s annual shareholder meeting on August 4 when shareholders
voted in favour of a 3-for-1 stock split.
Earlier this year, Musk said on social media that he had “no further TSLA sales planned” after
he had sold a block of shares in April worth $8.4 billion U.S.
However, Musk is in the middle of a legal battle with Twitter (TWTR), the social media company
that he agreed to acquire earlier this year for $44 billion U.S. Twitter has sued Musk to ensure
the acquisition goes through at the agreed upon price.
It is not clear what has prompted the latest sale of Tesla stock by Musk.
Tesla’s stock is down 29% this year and currently trading at $850 U.S. per share. The stock split
is scheduled to take place on August 25.
