Elon Musk sells USD6.9B in Tesla stake due to Twitter charge approaching


(MENAFN) Billionaire Elon Musk sold nearly USD6.9 billion value of Tesla shares in few days as a trial appears for the CEO who neglected an agreement to acquire Twitter.

The world’s wealthiest man sold 7.92 million shares of Tesla from Aug. 5 up to the 9th that are valued at USD6.88 billion, as shown by six economic filings publicized by the US Security and Exchange Commission (SEC) late Tuesday.

Musk implied that the money might be used to continue the acquisition agreement if he loses the court case with Twitter.

He published on Twitter early Wednesday when questioned if he was done selling Tesla stocks he stated that “Yes. In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”

The tesla owner sold USD8.5 billion of Tesla stakes in three days at the end of July, after Twitter’s approval of his purchase bid, in line with SEC filings.

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