Billionaire Elon Musk sold nearly $7 billion of Tesla shares, new fillings with the Securities and Exchange Commission reveals.
Musk, who finds himself in legal proceedings with Twitter over his reneging on a $44 billion deal to purchase the company, told a Twitter user “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.”
- Advertisement -
With his most recent sale, Bloomberg reports Musk has sold more than $32 billion in Tesla stock in the past 10 months.
Twitter’s lawsuit against Musk is expected to being in October. Jim Dixon, a trader with Mirabaud Securities, told Bloomberg it’s “very unlikely” Musk is done selling Tesla stock.
- Advertisement -
