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Elon Musk sells $6.9bn Tesla stocks ahead of Twitter court case

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The world’s richest man, Elon Musk, has reduced his investment in Tesla. The billionaire took out $6.9 billion from his investment in the automaker by selling part of his shares.

Recall that Ripples Nigeria had reported in April, that the business investor had also sold $8.5 billion worth of shares, with the billionaire informing his followers on the social media platform, Twitter, that, “No further TSLA sales planned after today.”

However, document obtained from the United States Securities and Exchange Commission (SEC) on Wednesday, showed that sales of his Tesla shares hadn’t been halted.

Read also: Elon Musk gives condition to complete Twitter deal, challenges CEO, Agrawal, to public debate

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.

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