Tesla Chief Elon Musk sold more shares in Tesla worth $6.9 billion which was the biggest sale of shares made by the billionaire. The sale represented the businessman’s need for cash to end his deal with Twitter, Fortune magazine reported on Wednesday.
Musk tweeted: “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’s statements came as respond to one of his followers asking him about finalizing selling Tesla shares for ending his Twitter deal, and he said: “yes.”
Tesla’s Chief sold shares estimated by $7.92 billion early this month, although Musk stated before that he had no plans for selling any shares of Tesla four months ago.
Tesla Chief Elon Musk said that the Twitter deal can go on original terms in case the leading social media company submitted all data related to spam pots and wrong information, ABC News reported on Sunday.
Musk tweeted: “If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms.”
“However, if it turns out that their SEC filings are materially false, then it should not.”
Mr Musk, who has more than 100 million Twitter followers, went on to challenge Twitter CEO Parag Agrawal to a “public debate about the Twitter bot percentage.”
It is worthy to mention that Twitter refuted, on Thursday, the billionaire’s claims about being “hoodwinked” into his deal to buy the company.
The company said: “According to Musk, he – the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers – was hoodwinked by Twitter into signing a $44 billion merger agreement.”
“That story is as implausible and contrary to fact as it sounds.”
Last week, the billionaire filed a countersuit to defend himself against Twitter’s accusations of Musk who stepped back from the company’s takeover bid.
The company responded: “The counterclaims are a made-for-litigation tale that is contradicted by the evidence and common sense.”
Leading social media platform Twitter previously announced that the company will hold a meeting with the shareholders on September 13 for voting on the takeover bid by Tesla CEO Elon Musk.
The plan of the company was somehow on hold due to the legal dispute between the company and Musk who terminated the offer.
During the meeting, the shareholders will vote on a proposal to approve the offer of Musk to have the company.