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Elon Musk sells nearly $7 billion worth of Tesla shares

2022-08-10T07:57:32.061Z

The multi-billionaire sold nearly eight million shares of his company between August 5 and August 9, according to US stock market authorities.



Is Elon Musk preparing for a defeat in the showdown between him and Twitter?

The billionaire has in any case sold nearly $7 billion worth of shares in the Tesla automobile group, according to a document filed with the SEC, the American stock market policeman, and published on the latter's website on Tuesday.

The multi-billionaire and Tesla boss, currently embroiled in a legal tussle over the takeover of the social network Twitter, sold around 7.9 million Tesla shares between August 5 and August 9, according to this gently.

Read alsoElon Musk gives up buying Twitter: five minutes to understand this twist

On his Twitter account, Elon Musk explained that he wanted to "avoid an emergency sale of Tesla securities", if he is forced to buy Twitter and some of these financial partners do not follow through.

Elon Musk on Saturday challenged the boss of Twitter to publicly debate and prove the share of false accounts on the social network, a point of disagreement put forward by the American multi-billionaire to withdraw his purchase offer, launching a legal battle.

Already shares sold to prepare for the purchase of Twitter

Elon Musk had signed a $ 44 billion agreement in April to buy the social network, before breaking it unilaterally in early July.

He believes that Twitter lied about the proportion of automated and spam accounts on its platform, and even claims that the social network "frauded", by deliberately increasing the number of monetizable accounts.

In April, the boss of Tesla had already sold some $8.5 billion worth of shares in his automotive group to prepare for the acquisition of the social network.

Source: leparis

All business articles on 2022-08-10

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