Elon Musk, the richest man in the world, has decreased his stake in Tesla. By selling a portion of his shares, the billionaire removed $6.9 billion from his investment in the automaker.
Recall that the business investor sold $8.5 billion worth of shares in April, with the billionaire telling his Twitter followers that “No further TSLA sales planned after today.”
However, a document obtained on Wednesday from the United States Securities and Exchange Commission (SEC) revealed that his Tesla shares had not yet stopped being sold.
Indications grow stronger that the billionaire plans to use funds from the automaker to finance the acquisition of Twitter if the United States court rules against him.
He had been dragged to court by Twitter’s board in July, with trial set to commence in October, after he publicly announced that he was no longer going forward with the acquisition of the social media company.
The Tesla boss had, through his lawyer, said his effort to obtain information on Twitter’s users, to determine the percentage of spam accounts on the social networking site, was unsuccessful, as Twitter’s board snubbed his request.
Although, the board refuted Musk’s accusation, as the billionaire had described the company’s action as breach of contract. The board also stated that it provided the investor with needed user data.