Elon Musk sells nearly $7 billion worth of Tesla shares

According to a document filed with the American stock market watchdog (Securities and Exchange Commission), the multibillionaire offloaded approximately 7.9 million Tesla shares between August 5 and 9, in order to avoid an emergency sale of Tesla securities in case it is forced to buy Twitter and loses the support of some of its financial partners. In April, he had already sold some $8.5 billion worth of shares in his automotive group to prepare for the acquisition of the social network. He had even assured that there would be no further sales of Tesla securities.

With now more than 15 billion dollars in his pocket, Elon Musk, in the midst of a legal standoff over the broken promise of his takeover of Twitter, could be preparing either to pay compensation or to finally finance the takeover of the social network. .

Elon Musk signed a $44 billion deal in April to buy Twitter, before unilaterally breaking it off in early July. The Tesla boss believes that Twitter lied about the proportion of automated accounts and spam on its platform.

A trial is due to begin on October 17 before the Delaware Court of Chancery, a court specializing in business law.

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