Would Elon Musk be worried about the looming lawsuit against Twitter? If on the surface the billionaire does not seem to care, behind the scenes, he is reselling part of his Tesla shares en masse, for a total of 7 billion dollars. On his favorite social network, the businessman explains that he prefers to do it now rather than after the trial.
Talking about the case between Elon Musk and Twitter almost always comes down to talking about billions of dollars. The takeover itself, already, should have been concluded for the modest sum of 44 billion dollars. Then, following a dark affair of fake accounts on the social network, everything was canceled and, since then, the threat of a lawsuit hangs over the two entities. In public, Elon Musk displays an assured mine, not the least bit worried by this prospect.
However, behind the scenes, the businessman seems to be preparing. In an operation that has not gone unnoticed by his army of fans who scrutinize his every move, Elon Musk has sold 7.92 million shares of Tesla, bringing him in passing $6.9 billion. “In the (hopefully unlikely) event that Twitter forces this deal through and some financial partners don’t follow through, it’s important to avoid a fire sale of Tesla stock.”has, as usual, commented on the person concerned on Twitter.
Related: Elon Musk Still Wants to Buy Twitter, But on One Condition
Elon Musk prepares for legal battle against Twitter
Since the beginning of this affair, Elon Musk seems to be trying to save himself froma quagmire in which he placed himself. Very quickly after issuing his takeover offer, the billionaire backtracked, citing a pretext that many consider secondary. After the coup de grace that was the formalization of the cancellation, Twitter was not mistaken and decided to attack the businessman in court.
Visibly unhappy with the way events turned out, the latter responded by filing a complaint in turn. The two parties are now waiting to meet in court next october 17. Either way, this isn’t the first time the Twitter project has pushed Elon Musk to part with his Tesla shares. In preparation for the takeover, he had already sold several million shares. His intentions, however, now seem to have changed.
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.
— Elon Musk (@elonmusk) August 10, 2022