Elon Musk sold nearly $7 billion worth of Tesla stock

A sale that does not go unnoticed. Tesla co-founder and CEO Elon Musk sold nearly $7 billion worth of shares in the automaker between Aug. 5 and Aug. 9, according to a document filed with the SEC, the US stock market watchdog, and released on Tuesday. August 9 on the latter’s website.

The American multi-billionaire is currently engaged in a legal standoff over the takeover of the social network Twitter. 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.

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This new operation to sell 7.9 million shares represents a total value of approximately 6.9 billion dollars (6.7 billion euros). “In the event (which I hope is unlikely) that Twitter succeeds in forcing a finalization of the agreement, and that certain [de nos] financial partners do not show up, it is important to avoid a fire sale of Tesla shares”wrote Elon Musk on Twitter.

Legal battle over Twitter takeover

After signing a $44 billion deal in April to buy Twitter, he unilaterally terminated it in early July. Elon Musk then let his lawyers know that he was ending his plan to take over the platform, assuring that the social network had not respected the commitments made in the agreement concluded between them, by not giving all requested information on the number of fake accounts and spam.

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Charges disputed by Twitter. In response, Elon Musk challenged the Twitter boss last Saturday to publicly debate with him to prove the share of fake accounts on the social network.

Le Monde with AFP and Reuters

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