Elon Musk has sold nearly $7 billion worth of Tesla shares, according to legal filings published Tuesday, amid a high-stakes legal battle with Twitter over a $44 billion buyout deal.
The Tesla boss sold some 7.9 million shares between August 5 and 9, according to filings published on the Securities and Exchange Commission's website.
"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, the world's richest man wrote on Twitter late Tuesday.
Twitter is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from the April agreement to buy the company, and a judge has ordered that a trial will begin in October.
Musk has filed a countersuit, accusing Twitter of fraud and alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout.
The move comes after Musk sold around $8.5 billion worth of shares in the electric carmaker in April as he was preparing to finance the Twitter deal. He tweeted at the time: "No further TSLA sales planned after today."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
"Hire Indian CEO Or...": X User's Post On JD Vance And His Indian-Origin Wife Gets Elon Musk's Attention Elon Musk Denies Pledging $45 Million A Month For Trump Election X Recorded "All-Time High" Of 417 Billion User Seconds Globally: Elon Musk "Someone Must Have Doubted...": Doctor On Trainee IAS Officer's Disability Claim Trump's Vice President Pick Reveals How His Hindu Wife Helped Him What Trump Rally Shooter Did On Last Day Of His Life CLAT 2025: Registrations Begin For Law Entrance Test, Check Details "Hire Indian CEO Or...": Musk Reacts To Man's Post On JD Vance And Wife Donald Trump Explains Why He Asked About His Shoes Amid Shooting Chaos Track Latest News Live on NDTV.com and get news updates from India and around the world.