Musk sold nearly $7 billion worth of Tesla shares

Musk sold nearly $7 billion worth of Tesla shares

Musk sold nearly $7 billion worth of Tesla shares

Photo: Elon Musk/public Sources 

Tesla CEO Elon Musk has sold $6.9 billion worth of electric vehicle maker shares. Musk announced this on Twitter.

The funds could be used to funding a potential deal with Twitter if it loses a lawsuit with the social media platform.

“In the event (hopefully unlikely) that Twitter forces the deal to close and some partners don't show up, it's important to avoid emergency sales of Tesla shares",– Musk noted.

BAGNET recalls that in early July, the entrepreneur terminated the agreement concluded on April 25 to buy Twitter for $44 billion.

Twitter is suing Musk to force him to complete the agreement, dismissing his claims that he was misled about the number of spam accounts on the social media platform as a rebuke of buyer conscience amid a sharp drop in tech stocks companies. Both parties will begin legal proceedings on October 17.

Prepared by: Sergey Daga