Elon Musk sold almost $7 billion worth of Tesla stock
The Tesla CEO sold around 7.9 million shares between Aug. 5 and 9, according to filings released on the Securities and Exchange Commission’s website.
“In the (hopefully unlikely) event that Twitter forces this deal through and some equity partners don’t pull through, it’s important to avoid a fire sale of Tesla shares,” Musk, the world’s richest man, wrote on Twitter late Tuesday .
Twitter is in a legal battle with the moody Tesla boss over his efforts to back out of April’s agreement to buy the company, and a judge has ordered a trial to begin in October.
Musk has filed a countersuit, accusing Twitter of fraud and alleging the social media platform misled him about important aspects of its business before agreeing to a $44 billion takeover.
The move comes after Musk sold around $8.5 billion worth of shares in the electric carmaker in April as he prepared to fund the Twitter deal. He tweeted at the time, “No further TSLA sales are planned after today.”
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