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Elon Musk says he will rebuy Tesla stock if Twitter deal doesn’t close

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Following the sale of nearly $7 billion in electric vehicle company shares, Tesla and SpaceX CEO Elon Musk stated on Wednesday that he would repurchase Tesla stock if the Twitter deal did not close.

When a user on the microblogging platform asked if he was done selling Tesla stock, the tech billionaire responded affirmatively.

“Yes. In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners do not come through, it is important to avoid an emergency sale of Tesla stock,” Musk wrote on Twitter.

Meanwhile, while replying to another user who asked, “if the Twitter deal does not close, will you buy Tesla stock again?” He replied, “Yes”.

According to reports, Musk sold 7.92 million company shares worth approximately $6.88 billion.

Musk’s transactions took place between August 5 and August 9, according to SEC filings, following Tesla’s 2022 annual shareholder meeting on August 4 in Austin, Texas.

On social media earlier this year, the tech billionaire stated that he had “no further Tesla sales planned” after April 28.

SEC filings that week revealed Musk was selling a block of shares in his electric car company worth approximately $8.4 billion.

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Brendan Taylor

Brendan Taylor was a TV news producer for 5 and a half years. He is an experienced writer. Brendan covers Breaking News at Insider Paper.

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