Elon Musk sells nearly $7 billion in Tesla shares with Twitter trial looming - The Verge

Elon Musk said in April he wasn’t planning to sell more shares of Tesla after unloading $8.3 billion so he could buy Twitter. Now he sold $7 billion more, saying it’s to avoid an emergency sale if he’s unable to get out of buying Twitter.

With so much of the world’s richest man’s wealth tied up in shares of his electric car company, Tesla is a part of the deal Elon doesn’t want to do anymore for more reasons than just a few subpoenas. Six SEC filings (1, 2, 3, 4, 5, 6) revealed Elon Musk sold more Tesla shares over the last few days, which is surprising given Musk’s tweet saying, “No further TSLA sales planned after today,” after he sold off $8.4 billion worth in April.

Tesla investor Sawyer Merritt tweeted a count of Musk’s activity between August 5th and August 9th, showing he sold 7,924,107 shares worth about $6.9 billion. Just before 11PM ET, Elon responded on Twitter, citing the looming trial against Twitter as an explanation for the new plan.

No further TSLA sales planned after today

https://www.theverge.com/2022/8/9/23299343/elon-musk-tesla-stock-sells-twitter-trial

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