On August 11, 2022, by Olivier Sancerre
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Even if he no longer wants to hear about his failed attempt to acquire Twitter, Elon Musk is taking the lead. If he was nevertheless forced by justice to buy the platform, he has just sold several billion dollars worth of Tesla shares.
A saga with many twists and turns
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According to the platform, there would be less than 5% of fake accounts. They would be much more numerous, according to Elon Musk. However, these accounts cannot be made profitable… Since the announcement of this withdrawal from the operation, the company has filed a complaint and a trial will be held in October between the two parties. And justice could well force the CEO of Tesla to put his hand in his pocket by forcing him to buy Twitter!
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$7 billion
That’s why Elon Musk is preparing for the worst. Between August 5 and August 9, he sold 7.9 million Tesla shares, which represents a value of approximately $7 billion. As he explains on Twitter, this sale was made “ in the event (which I hope is unlikely) that Twitter succeeds in forcing a finalization of the deal, and that some [de nos] financial partners would not come forward, it is important to avoid a fire sale of Tesla shares ».
Prudence therefore for the businessman who perhaps does not have enormous confidence in the solidity of his case in the face of justice? This transaction follows another sale of shares of the group carried out in April, during which Elon Musk sold for 8.5 billion dollars of Tesla shares. At the time, he was still firmly committed to a buyout.
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