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HomeUncategorizedElon Musk Sells Nearly $6.9 Billion in Tesla Stock Amid Legal Battle...

Elon Musk Sells Nearly $6.9 Billion in Tesla Stock Amid Legal Battle with Twitter

The sale comes just four months after the world’s richest person said he had no plans to sell any more shares of the business.

Tesla CEO Elon Musk sold $6.88 billion worth of company stock between August 5 and 9, according to six financial regulatory filings filed Tuesday night showing that sold more than 7.92 million titles. The sale comes just four months after the world’s richest person said he had no further plans to sell shares of the automaker after dumping $8.5 billion worth of stock in the wake of his now-canceled deal to buy Twitter. reports CNBC.

Twitter established a lawsuit to force Musk to consummate his $44 billion deal to acquire the social network. In a series of tweets on Wednesday, Musk made it clear that his intention was to avoid an emergency stock sale if he is ultimately forced to complete the purchase of the microblogging platform.

When his followers asked him if he had finished selling titles, the tycoon replied: “Yes.” “In the (hopefully unlikely) event that Twitter forces this deal to close *andsome equity partners don’t show up, it’s important to avoid an emergency sale of Tesla stock,” he wrote.

Last weekend, Musk tweeted that if Twitter provided its sampling method for determining the number of bots on the network and clarified how it confirms the accounts are real, “the deal should continue in the original terms”.

Musk, 51, has sold about $32 billion worth of Tesla stock in the last ten months. Sales began in November after the tycoon decided to buy the social network. Shares of Tesla have risen about 35% from recent lows reached in May, although they are still down about 20% this year, details Bloomberg.

With a fortune of 250.2 billion dollars, Elon Musk is the richest person in the world , according to the Bloomberg Billionaires Index , despite the fact that his wealth has fallen by around 20,000 million dollars this year due to the depreciation of Tesla shares.

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