Tesla boss Elon Musk does not want to sell shares in the electric car manufacturer for the next two years. In an audio chat on Twitter Space, Musk said he expected the economy to slide into a “severe recession” next year and demand for cars would be low. In the past, however, Musk had often announced that he would no longer sell Tesla shares, but he did so anyway.
Twitter’s new owner and CEO of Tesla sold shares in the electric car maker worth more than $3.5 billion last week. With the latest sale, Musk sold shares in the electric car maker he founded last year with a total value of nearly $40 billion.
Shares in Tesla, the world’s most valuable automaker, were among the worst-performing stocks among major automakers and technology companies this year. Investors fear Musk’s involvement with Tesla could suffer from the takeover of the short message service.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
