Musk Sells $6.9B In Tesla, Cites “Forced” Twitter Deal

August 10, 2022 Business, Social Media

Tesla Inc Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.

“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,” he said in a tweet late on Tuesday.

Following the announcement of the share sale on Tuesday, Musk took to Twitter and said “yes” when asked if he was done selling Tesla stock, adding he would buy it again if the Twitter deal does not close.

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Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal https://t.co/4i25wUmC5s pic.twitter.com/iwbl1IQkgL

— Reuters (@Reuters) August 10, 2022