Billionaire Elon Musk has sold 7.9 million units of Tesla amounting to $6.9 billion. It would seem he is preparing for the worst case scenario in his $44 billion Twitter purchase lawsuit. Regulatory filings show that the sale took place after the firm’s annual shareholder meeting last week.
BREAKING: Elon Musk has filed a total of six Form 4s with the SEC tonight showing that he sold 7,924,107 $TSLA shares worth about $6.9 Billion.
— Sawyer Merritt
Weighted average price was $869.09.
The sales took place on August 5th, 8th and 9th. pic.twitter.com/SueP2AYGNR(@SawyerMerritt) August 10, 2022
He already admitted this on Twitter saying,
“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.”
Elon Musk
In July, he announced that he was pulling out of the $44 billion agreement to buy Twitter because of the prevalence of fake or spam accounts on Twitter’s platform. Twitter dragged him to court because he pulled out and the case is due in court in October this year.
A couple of days ago he again challenged the Twitter CEO to a public debate about the Twitter bot percentage, apparently wanting to win by public opinion rather than wait for the court
Over the last ten months, Elon Musk has sold around $32 billion worth of stock in Tesla.
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