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Elon Musk sells nearly $7 billion worth of Tesla stock

  • Post category:Economy News
  • Reading time:2 mins read

The multi-billionaire and Tesla boss, currently embroiled in a legal tussle over the takeover of the social network Twitter, sold around 7.9 million Tesla shares between August 5 and August 9, according to this gently.

On his Twitter account, Elon Musk explained that he wanted to “avoid an emergency sale of Tesla securities”, if he is forced to buy Twitter and some of these financial partners do not follow through.

Elon Musk on Saturday challenged the boss of Twitter to publicly debate and prove the share of false accounts on the social network, a point of disagreement put forward by the American multi-billionaire to withdraw his offer to purchase, launching a legal battle.

Elon Musk had signed a $ 44 billion agreement in April to buy the social network, before breaking it unilaterally in early July.

He believes that Twitter lied about the proportion of automated accounts and spam on its platform, and even claims that the social network “frauded”, by deliberately increasing the number of monetizable accounts.

In April, the boss of Tesla had already sold some $8.5 billion worth of shares in his automotive group to prepare for the acquisition of the social network.