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Elon Musk Hedges His Bets, Sells Tesla Stock

Elon Musk has sold some 7.92 million shares of Tesla stock, hedging his bets in his legal battle with Twitter....
Elon Musk Hedges His Bets, Sells Tesla Stock
Written by Matt Milano
  • Elon Musk has sold some 7.92 million shares of Tesla stock, hedging his bets in his legal battle with Twitter.

    Musk originally tried to buy Twitter, lining up investors to help him do so. After weeks of back-and-forth, in which Musk accused Twitter of not disclosing the true scope of bots on the platform, the CEO called off his purchase. Twitter sued Musk to keep the deal alive, leading him to sell off some of his Tesla stock.

    According to CNBC, Musk has sold 7.92 million shares of Tesla stock for approximately $6.88 billion. Musk confirmed the news in a tweet when asked if he planned to sell any additional shares.

    Musk said he had sold the stock as a safety measure in the event some of his equity partners don’t come through.

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