Elon Musk has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter.
Musk is by far the largest individual shareholder in both Tesla and TwitterMusk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days.
Musk alleges that Twitter committed fraud, breach of contract and violation of a securities law in Texas, where Musk lives. Musk said in the spring that he planned no major sales of his stake in Tesla after lining up financing to acquire Twitter, but Dan Ives, an industry analysts with Wedbush, said Wednesday that “the situation has dramatically changed.”
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