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Elon Musk sold about $6.9 billion worth of Tesla stock. He said he did this in case he had to go through with his plan to buy Twitter.
The transactions were made by Musk, who is the CEO of Tesla, between August 5 and August 9, SEC financial filings show. CNBC said that the first sale happened a day after the electric car company's annual meeting of shareholders in Austin, Texas.
The report said that the richest person in the world sold 7.92 million shares of Tesla stock.
After being asked by another social media user, Musk said Tuesday on Twitter that he was done selling Tesla stock.
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.
But just four months earlier, he said the same thing.
Axios says that when he tried to buy Twitter, he sold $8.5 billion worth of Tesla stock. In April, he tweeted that he had no plans to sell any more.
No further TSLA sales planned after today
— Elon Musk (@elonmusk) April 29, 2022
Musk and Twitter have been in a legal battle since he pulled out of an agreed deal to buy the social media behemoth.
Musk changed his mind in July and said that Twitter didn't do enough or wouldn't tell him about fake or spam accounts, also called "bots," on the site.
Twitter sued him a few days later to make him finish the deal, and Musk then sued Twitter back.
Musk asked Twitter CEO Parag Agrawal for a "public debate about the percentage of Twitter bots" earlier this month.
Bloomberg said that in the last ten months, Musk has sold about $32 billion worth of Tesla stock.
Musk also said on Twitter on Tuesday that if he doesn't have to buy Twitter, he would buy back Tesla stock.
Yes
— Elon Musk (@elonmusk) August 10, 2022
Tesla stock closed at $850 per share Tuesday.
