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Elon Musk has sold a further $6.9 billion of his shares in Tesla Inc., according to new filings with the Securities and Exchange Commission published on Aug. 9.
The selloff took place between Aug.5 and Aug.9 following Tesla’s annual shareholder meeting last week, and amid the tech billionaire’s legal battle with social media platform Twitter.
Musk sold 7,924,107 shares, according to multiple filings. He now owns just over 155 million shares in Tesla.
In April, Musk sold 8.5 billion worth of shares in the company just days after he agreed to purchase Twitter for $44 billion. At the time, the businessman stated that there were “no further TSLA sales planned.”
However, taking to Twitter on Aug. 10, the CEO of the electric vehicle maker said the latest share selloffs were done in the “hopefully unlikely” event that he would be forced to buy Twitter and would be unable to secure the funding needed for the deal.
