Tesla CEO Elon Musk has given himself some financial cushion by selling nearly $7 billion in Tesla stock.
In April, the Tesla CEO said he had no plans of selling any more Tesla stock after selling about $4 billion worth, yet six Securities and Exchange Commission filings reveal that Musk sold 7,924,107 more shares between Aug. 5 and 9 for $6.9 billion.
Tesla investor Sawyer Merritt tweeted at Musk late Tuesday asking if the tech mogul was in fact done selling.
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“Yes,” Musk replied. “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.”
Yes.
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.
— Elon Musk (@elonmusk) August 10, 2022
As part of his $44 billion bid to take over Twitter, the Tesla CEO requested information regarding the number of spam bots on the social media platform. Not satisfied with an answer, Musk filed documents with the SEC in July giving notification of the cancellation of his offer to buy Twitter, sparking the lawsuit against him.
Musk then filed a countersuit against Twitter, accusing the social media platform of fraud.
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Twitter and Musk are due to face off in a Delaware court beginning Oct. 17.
