According to The Wall Street Journal, Elon Musk, Tesla’s CEO and largest shareholder has sold Tesla shares worth nearly $7 billion.
The sale comes amid uncertainty about the fate of his $44 million Twitter deal. The publication believes that he sold the shares to avoid being forced to buy Twitter by a court. He owns about 15% of the company’s shares, selling them between Friday and Tuesday.
Elon Musk purchased $4 billion worth of shares of Tesla stock in April as part of an agreement with Twitter to purchase the company. The fact that Twitter hides information about fake accounts, which he claimed is why the entrepreneur refused to purchase a social network in July, led to Musk’s refusal to buy it.
Twitter sued the billionaire because he refused to sign the deal. The businessman said he would consider a deal with Twitter if the company provided complete information regarding the number of bots on the social media network.