ELON MUSK CASHES IN $6.9 BILLION ON HIS TESLA STOCK SHOULD CASE
Some months ago Elon musk bought Twitter for $44billion,but few months after the announcements,there seems to be a twist in the purchase of the giant social media,musk decided to opt out of the purchase due to certain things he could not find on Twitter especially knowing how many bots are on Twitter,his opting out of the purchase didn't go well with twitter and they decided to sue him.
Now there have been report on social media that elon musk sold part of his stock on Tesla wort $6.9billion.selling his stock has alot of implications on him in the Tesla company because it means that he will no longer have much say in the company,but come to think of it,what must have prompt him to sell a very large part of his stock despite knowing the implications,I very sure money is no problem for someone that worth $250billion.with this amount,he is argueably the richest person in the world,so he can literally do any thing he wants.so.whats now the reason for selling his stock.
The twitter purchase issue is in court right now and his trial is set to begin in October,so there are speculation that he is selling his stock should Incase he is been forced to buy twitter,so selling his stock is just like he is preparing for the worst case scenerio.nobody knows what might be the verdict of the court either it will be in favour of him or against him.
In April after announcing that he was purchasing twitter,musk also sold $8.5billion of his Tesla stock, so there is this thinking that he is trying to avoid selling Tesla stock at a lower price since the rebound of Tesla in may,I guess there is every inclination that he is just preparing himself for whatever that will happen or come up with the twitter court case.so let wait and watch out for the court case.i am very sure for him to opt out of the business he must have made his calculations as a business man and perhaps found out it might end up not profiting him.well October is near by so we will see how the whole thing plays out.