NEW YORK, NEW YORK – MAY 02: Elon Musk attends the 2022 Met Gala celebrating ‘In America: An Anthology of Fashion’ at The Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)
Dimitrios Kambouris | Getty Images Entertainment | Getty Images
Tesla CEO Elon Musk sold 7.92 million Tesla shares worth about $6.88 billion, according to a series of financial filings released Tuesday night.
His transactions took place between Aug. 5 and Aug. 9, SEC filings reveal, following Tesla’s 2022 annual shareholder meeting on Aug. 4 in Austin, Texas.
Earlier this year, the CEO of Tesla and SpaceX said on social media that he had “no more sales planned for TSLA” after April 28.
This week, SEC filings revealed that Musk has been selling a stake in his electric car maker worth about $8.4 billion.
The billionaire is in the midst of a contentious legal battle with Twitter, the social media giant he agreed to acquire in April for about $44 billion, or $54.20 a share.
Read more about electric vehicles from CNBC Pro
Amid the overall market decline, Twitter’s stock price and Tesla’s stock price fell. Musk said he was ending the deal and accused Twitter of not providing him with all the information he needed to proceed with the acquisition.
He also accused Twitter of underestimating the number of bots, spam and fake accounts on its platform.
By July 8, Musk said on Twitter that he was ending the deal.
Twitter sued to ensure the deal with Musk goes through at the promised price, which would represent a windfall for many of its shareholders.
Tesla shares were trading mostly flat after hours on the news. Tesla shares closed at $850, down just over 2 percent on the day Tuesday, before the executive’s inside sales were disclosed through SEC filings.
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