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On Tuesday, it was revealed that Tesla Inc (NASDAQ:TSLA) CEO Elon Musk sold millions of shares of the electric vehicle company he heads. Here’s a look at how many shares of Tesla stock Musk owns after the sale and how much they’re worth.
What Happened: New SEC filings revealed Musk sold 7.92 million shares of Tesla, valued at over $6 billion. The transactions took place on Aug. 5, Aug. 8 and Aug. 9 across a total of 55 sales.
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The sales by Musk follow transactions to sell shares in November 2021 and in April 2022.
In April, Musk took to Twitter to say that no more sales were planned.
After the transactions hit Tuesday, Musk took to Twitter to once again say he doesn’t plan on selling more shares and to give a reason for the recent transactions.
“In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted.
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Twitter Inc (NYSE:TWTR) sued Musk in July to force a $44 billion buyout deal made with him to go through. The two parties are set for a court date of Oct. 17, 2022.
Related Link: On Again, Off Again, Is Elon Musk's Deal To Buy Twitter In Jeopardy? Once Again Depends On Who You Ask
What’s Next: After the recent transactions, Musk owns 155,039,144 shares of Tesla. The stake represents 14.9% of Tesla’s 1.04 billion outstanding shares at the end of the second quarter. The stake does not include any unlocked options that are part of a compensation package for Musk.
The 155,039,144 shares are worth $137.98 billion based on a price of $890 for Tesla shares Wednesday morning.
Elon Musk has a net worth of $250 billion according to the Bloomberg Billionaires Index, ranking as the world’s richest person.
Musk’s net worth has dropped $20 billion year-to-date in 2022.
TSLA Price Action: Tesla shares are up 5% to $890.66 on Wednesday.
Photo: Created with an image from TED Conference on Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.