New York: Tesla CEO Elon Musk has sold nearly $7 billion worth of his shares in the company ahead of a legal battle with Twitter. Musk gave this information to the stock exchanges. Musk said that he has sold nearly eight million shares in Tesla Inc. in recent days. Musk is the largest shareholder in both Tesla and Twitter.
Musk tweeted, “If Twitter pressures to close the deal and some equity partners do not come together, it is necessary to do so to avoid an emergency sale of Tesla shares.”
Musk alleged that the company could not provide enough information about the number of fake Twitter accounts, which prompted him to cancel the deal. Musk signed a deal to acquire Twitter earlier this year for about $44 billion.
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