Elon Musk Sells Off Another $7 Billion Tesla Shares…Tap For More

Elon Musk sold $6.9 billion in Tesla Inc stock to raise cash ahead of a trial that might compel the billionaire to fulfil his estranged deal to purchase Twitter Inc.

According to regulatory records, Tesla’s CEO sold around 7.92 million shares in the past three days of trade. Musk, who still owns almost 15% of Tesla, tweeted that he was done selling and would buy Tesla stock if the Twitter transaction fell through.

Musk wrote on Twitter,“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”. Tesla rose 3% to $875.51 at 9:50am Wednesday in New York, while Twitter was up 3.2% to $44.19.