Its $7 billion in shares Tesla sold, according to a document filed with the US Securities and Exchange Commission (SEC) and made public on Wednesday (10/8) the Elon Musk.
The billionaire and head of Tesla, who is in a legal standoff over its takeover of the social networking site Twittersold about 7.9 million Tesla shares between Aug. 5 and Aug. 9, according to the filing.
Elon Musk explained in a post that he wanted to “avoid an emergency sale of Tesla shares”in case he finds himself forced to buy Twitter and some of his financial partners don’t follow through.
Elon Musk signed a $44 billion deal in April to acquire the social network, before unilaterally breaking the deal in early July.
He believes that Twitter lied regarding the proportion of fake accounts and spam on its platform and even claims, as reported by the Athens News Agency, that the social network “cheated” by deliberately declaring more accounts.
In April, the Tesla chief had already sold about $8.5 billion worth of shares in his group to prepare for the Twitter acquisition.
Source: News Beast
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