Elon Musk, the head of the US electric car manufacturing company “Tesla Motors”, has sold the company’s shares worth almost seven billion dollars, according to information released by the US Securities and Exchange Commission (SEC) on Tuesday.
The SEC reports that Musk sold approximately 7.9 million Tesla shares between August 5 and 9.
These shares were sold at a time when the micro-blogging site “Twitter” sued Maska for breaking the contract to purchase “Twitter”.
Musk announced on July 8 that he was backing out of the deal to buy Twitter, and accused Twitter of making misleading statements about the number of fake accounts on the platform. Musk signed the purchase agreement for 44 billion dollars in April.
On the other hand, Twitter’s lawyers have said that Musk’s arguments are just an excuse to refuse the deal.
In April, Musk already sold about $8.4 billion worth of the automaker’s shares.
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