Elon Musk says he will not sell more Tesla stock until 2025
By The Headlines, December 24, 2022 | 11:55 AM
Tesla CEO Elon Musk, who has sold billions of dollars worth of stock this year, thinks a "serious recession" will hit car sales by 2023.
He has said that he will not sell more Tesla stock until 2025. During a Twitter chat, Mr Musk said he believes there is a good chance of a recession next year. Mr Musk founded Tesla, an electric vehicle maker and Musk went on to say "the economy's going to slow way down."
Tesla's board is open to the possibility of a share buyback, he said, but that will depend on the severity of the recession.
Last April, Musk sold $4 billion worth of Tesla shares before saying he would not sell anymore. However, this week he did announce that he sold a whole $3.6 billion worth of stock.
Tesla shares have mostly been falling over the course of this year so far. Many people are concerned about how Elon Musk has been distracted as of late since he has taken on leadership for Twitter.