Musk sold 7.9 million shares! In case of losing the lawsuit, he urgently cashed out nearly $7 billion!

It is learned that documents released by the US stock market regulator on August 10 showed that the world's richest man Musk sold about 7.9 million shares of Tesla in just three days, urgently cashing out nearly US$7 billion, and revealed that the money will be used to pay for the acquisition costs in case he loses the acquisition of Twitter.

“If Twitter forces this deal to close and some equity partners do not follow through, it will be especially important to avoid a sharp drop in Tesla’s stock,” the world’s richest man wrote in a tweet.

It is reported that Musk said in the spring that he had no plans to sell his shares in Tesla after financing the acquisition of Twitter, but it now seems that Musk has been slapped in the face again.

Although he cashed out nearly $7 billion in an emergency, the richest man still holds 155 million shares of Tesla, with a market value of $131 billion at the close of August 9.

Musk said over the weekend that the $44 billion acquisition of Twitter in early July might have been completed earlier if Twitter had provided him with detailed information on how it estimates the number of fake or "spam" accounts. "If Twitter had simply simplified its sampling methodology of 100 accounts and the data provided was verified to be real, the deal would have gone forward on the original terms," ​​Musk wrote on the social network.

Twitter's board has invited its shareholders to vote on the acquisition on September 13 and asked them to give the green light to the business.

It is learned that before the opening of the market on August 10, Tesla's stock price rose by nearly 2%. Twitter's stock price has risen by 16% in the past month. Before the trial of Musk's acquisition of Twitter, many onlookers had speculated that Musk would lose the case. Interestingly, this actually pushed Tesla's stock price up.

Editor ✎Estella/

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