The Tesla company is going to sell 22 million shares for $3.6 billion to Elon Musk, according to reports

On June 25, 2023, Elon Musk, the richest man in the world, sold an additional 22 million shares in Tesla, generating $3.6 billion. In 2022, Musk has sold Tesla stock five times, for a total gain of $22.9 billion.

Selling the shares will help Musk pay for Twitter. In October 2022, he agreed to pay $44 billion to acquire the social media company. Regulator permission is still waiting for the transaction.

Tesla’s stock price has fallen by around 10% since Musk started selling in April as a result of the sales. The stock is still up almost 50% in 2022, though.

Key Takeaways

• On June 25, 2023, Elon Musk sold an additional 22 million Tesla shares, generating $3.6 billion.
• Musk has sold Tesla stock five times in 2022, raising $22.9 billion in total.
• Musk is selling the stock to pay for the Twitter acquisition.
• Tesla’s stock price has fallen by around 10% since Musk started selling in April as a result of the sales.
• How much more Musk intends to sell is unknown.

Another 22 million Tesla shares were sold by Elon Musk, which is a huge step. Tesla’s stock price has been impacted by the sales, but it’s unclear how much more Musk intends to sell. In the upcoming months, it will be interesting to see how the market responds to Musk’s ongoing sales.

Impact on Tesla’s Stock Price

The sales have hurt the value of Tesla’s stock. Since Musk started to sell in April, the stock has decreased by around 10%. The stock is still up almost 50% in 2022, though.

According to several analysts, Tesla’s stock price may soon be impacted by the sales. Others, however, think that the stock price will only be moderately affected by the sales in the long run.

Elon Musk’s Impact on Twitter Deal

The Twitter deal may potentially be impacted by the sales. The sales may cause regulators to express alarm about the merger, which is still awaiting regulatory approval.

Musk has asserted his confidence in the deal’s approval, nevertheless. In order to aid regulators in approving the deal, he has also stated that he is prepared to give them more financial details.

Future Sales for Elon Musk

How much more Musk intends to sell is unknown. According to what he has declared, he will keep selling shares up until he controls no more than 17% of Tesla.

Musk has, however, also stated that he is willing to selling more shares if necessary to obtain additional funds to pay for the Twitter acquisition.

Conclusion

Another 22 million Tesla shares were sold by Elon Musk, which is a huge step. Tesla’s stock price has been impacted by the sales, but it’s unclear how much more Musk intends to sell. In the upcoming months, it will be interesting to see how the market responds to Musk’s ongoing sales.