The boss of Tesla thus hopes to “avoid an emergency sale of Tesla securities”, if ever he were forced to buy Twitter.
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To better prepare for the legal battle with the social network Twitter, Elon Musk sold nearly $7 billion worth of shares in the Tesla automotive group, according to a document filed with the SEC, the American stock market policeman , and published Tuesday on the website of the latter. This represents 7.9 million shares, sold between August 5 and 9.
On his Twitter account, the multi-billionaire explained that he wanted “avoid an emergency sale of Tesla shares”if he is forced to buy back Twitter and that some of its financial partners do not follow through.
In April, Elon Musk had signed a 44 billion dollar agreement to buy the social network, before breaking it unilaterally in early July. The boss of Tesla had then already sold for some 8.5 billion dollars of shares of his automotive group to prepare for the acquisition of the social network. At the time, he had however assured that there would be no other sales of Tesla titles, a promise which he reiterated during this new sale, in his response to a user on Twitter.
In the midst of a legal battle, Elon Musk challenged the Twitter boss on Saturday to publicly debate and prove the share of fake accounts on the social network. This point of disagreement has been highlighted by the American multi-billionaire since the withdrawal of its purchase offer.
He believes that Twitter lied about the proportion of automated accounts and spam on its platform, and even claims that the social network has “fraud”by voluntarily increasing the number of monetizable accounts.