Tesla founder and CEO Elon Musk sold 7.9 million shares of the company for $6.9 billion, according to CNBC. In the last 10 months, the billionaire sold shares of the company for $32 billion.
The deal came after Tesla’s annual shareholder meeting on August 4.
The shares were sold weeks after the businessman refused to buy Twitter for $44 billion and the ensuing lawsuits. According to Bloomberg, Musk may need the money in case he has to close the deal.
On his Twitter account, Musk responded in the affirmative to a user’s question about whether he would buy the shares back if the deal didn’t go through.
According to Bloomberg, in the last ten months, the businessman sold about $32 billion worth of Tesla stock. The last time was in late April, then after the sale Musk made $8.4 billion. After that, he stated that he no longer plans to sell securities.
Now the volume of Tesla shares owned by Musk is 155 million, or just under 15%, writes Reuters.
Musk agreed with Twitter to buy the social network in April. The parties were scheduled to close the deal before the end of 2022, but on July 9 the billionaire left it. The businessman’s lawyers said that the company did not provide him with all the information to evaluate the business. Twitter is convinced that Musk rejects the deal because it no longer responds to the personal interests of the businessman.
On July 13, Twitter shareholders sued Musk to complete the deal, and the businessman filed a counterclaim.
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