Elon Musk Sells $7B of Tesla Stock Ahead of Twitter Courtroom Drama
The tech tycoon says he might need the money if he’s forced to buy his favorite platform for trolling.
James Devaney
Elon Musk has sold $6.9 billion of his Tesla stock ahead of a looming legal battle that may force him to buy Twitter. The capricious electric-car mogul backed out of a $44 billion deal to buy the social media company in July, but Twitter sued Musk demanding that he make good on its terms. With the trial set to take place in Delaware in October, the world’s richest man appears to be making sure he has enough cash ready to go if the case doesn’t go his way. “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,” Musk tweeted Tuesday. He also confirmed that he had finished selling Tesla stock and that he would buy shares in his company again if he doesn’t wind up having to buy Twitter.
Yes.
— Elon Musk (@elonmusk) August 10, 2022
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.
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