Elon Musk has his back. The boss of Tesla and SpaceX sold for 6.9 billion dollars of Tesla shares (or 6.7 billion euros) between August 5 and 9, according to the SEC, the American stock market policeman. “In the event (which I hope is unlikely) that Twitter succeeds in forcing a finalization of the agreement, and that some (of our) financial partners do not show up, it is important to avoid an emergency sale of Tesla shares,” the billionaire wrote on Twitter.
The Tesla boss terminated the Twitter takeover agreement in early July, accusing the group of having breached its contractual obligations by providing in particular erroneous or incomplete data on the number of fake accounts. The social network denied these accusations.
Twitter and Musk will meet in court from October 17 to 20 to settle their dispute.
With Reuters (Hyunjoo Jin and Akriti Sharma, with contributions from Shubham Kalia and Shivam Patel; French version Camille Raynaud)