Elon Musk sold another part of his Tesla shares worth almost $7 billion. He may need this money to buy Twitter

American inventor and businessman Elon Musk sold another 8 million shares of his Tesla company for a total of $6.88 billion. He said that he may need this money to buy Twitter.

The BBC writes about it.

The share sale followed the companyʼs annual shareholder meeting last week. The latest agreements are dated August 5, 8 and 9.

Musk himself confirmed this information on Twitter and emphasized that he needed money to purchase this social network. However, he does not yet know whether the acquisition will come to fruition, but he wants to avoid a simultaneous mass sale of shares, so he does it in advance.

At the same time, the businessman emphasized that if the deal to acquire Twitter fails, he plans to buy back Tesla shares.

• On April 5, 2022, Elon Musk bought a 9.2% stake in Twitter, after which the company offered him a seat on the board of directors. Musk refused and on April 14 offered to buy Twitter for $44 billion, but delays began in this matter. Mask failed to verify information about fake accounts.
• On July 8, he said he was refusing to buy the company, and accused Twitter of breaching the deal — because of "false data about the number of fake accounts on the platform."
• Twitter filed a lawsuit over the legality of the businessmanʼs refusal to buy it for $44 billion. Elon Musk filed a counterclaim on July 29.