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

Oleksiy Yarmolenko

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.