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- Elon Musk stated that he sold Tesla stock only because it was "desperately necessary" to complete the Twitter deal.
- According to the BBC, the billionaire owner sold Tesla stock even though it was not his intention.
- Musk answered when directly asked how much he was worth: "I don’t know."
Elon Musk claimed that Tesla stock was sold because it was "desperately necessary" to complete his Twitter deal. He also stated that he didn't know his net worth in an impromptu interview on Tuesday night with the BBC.
To close the deal, I sold a lot Tesla stock. Musk stated to James Clayton, a BBC correspondent at Twitter's headquarters that he did not want Tesla stock to be sold.
He said that people couldn't tell the difference between "I'm selling Tesla stock to lose faith in Tesla" and "I'm selling Tesla stock to fund Twitter."
Musk sold Tesla stock worth $23 billion last year to finance his $44 Billion Twitter purchase.
He stated that there are only "brief window" in which he can sell Tesla stock. Additionally, such sales are often misinterpreted as him losing confidence in his electric-vehicle business.
He stated that Tesla stock sales had caused Tesla stock sales to plummet. This is not good.
Tesla shares plunged 65% in 2022 but have risen 52% to $187 in this year. They trade at a fraction of their peak price, which was over $400 in November 2021.
Musk's $181 billion fortune, which was estimated at $181 billion as of Wednesday, is a substantial portion of the stock.
When asked directly how much he's worth, the Tesla, Twitter and SpaceX CEO responded: "I don’t know."
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By: zsalfiti@insider.com (Zinya Salfiti)
Title: Elon Musk only sold Tesla stock because it was ‘desperately needed’ for the Twitter deal – and says he doesn’t know his net worth
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-sell-tesla-stock-buy-twitter-deal-net-worth-2023-4
Published Date: Wed, 12 Apr 2023 13:19:11 +0000
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