Litigation is going on these days between the world's richest person Elon Musk and social media company Twitter. Ever since Elon Musk's offer to buy Twitter, discussions have been going on around the world about this. At present, this issue of Musk and Twitter is in US courts. On the other hand, there are also indications that Musk is completing preparations to buy Twitter on his behalf. Selling the billion-dollar stocks of electric vehicle company Tesla once again indicates the same thing.
A Reuters report states that Tesla Chief Executive Officer Elon Musk has again sold $7.92 million of his stake in the electric vehicle company. Reuters has given this report citing the company's securities filing. According to the report, Tesla told the regulator in Tuesday's security filing that its CEO Elon Musk sold 7.92 million shares, bringing in $6.9 billion.
Earlier in April, Elon Musk sold $8.5 billion worth of Tesla shares. Musk also sold Tesla shares to finance his $44 billion offer to buy Twitter at the time. However, then Musk also said that he has no plans to sell any more shares of Tesla. Before that, Musk had also sold shares of Tesla to pay taxes.
The fresh sale of Tesla shares is fueling speculation that Musk still wants to leave no stone unturned as he prepares to buy Twitter on his behalf. If he has to buy Twitter after the court's decision, then he wants to be prepared for this situation by raising money in advance.
However, when Reuters contacted Tesla about this, there was no immediate response from the company. According to the filing, Musk made this fresh sale of Tesla shares between August 05 and August 09. After this sale, Elon Musk has 155.04 million shares of Tesla left. Last month, on July 20, Tesla released its quarterly results.
Since then, its stock has climbed about 15 percent due to the company earning better than expected. The company has also been helped by the US government's decision to remove the tax credit limit for electric vehicles.
