Elon Musk Sells Tesla Shares Worth $6.9 Billion Ahead of Twitter Trial

Tesla CEO Elon Musk has sold 7,924,107 shares of his company worth nearly $6.9 billion, saying he might need the cash in the unlikely event that he is forced by the court to close the Twitter deal, Tesla North is reporting.

Musk

Musk sold the shares on August 5, August 8, and 9, according to the SEC filings.

Replying to Tesla investor @SawyerMerritt, who asked if he was done selling, Musk said “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,” Musk continued.

“Musk selling TSLA stock after he said no more sales will lead the Street to focus on chances of Twitter deal happening and Musk preparing cash portion,” said Wedbush’s Daniel Ives.

Ives added that Musk’s tweet “confirms our thoughts on Twitter.”

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