Billionaire Elon Musk has a good grasp of trading stocks. As a rule, his trades are profitable.
Last week, the co-founder and CEO of Tesla sold 7.9 million of the company’s shares for a total of $6.9 billion. The world’s richest person made this decision immediately after Tesla’s annual shareholder meeting was held on August 4 in Austin. It took almost four days to sell the stocks. Some experts are also trying to find a correlation between Musk’s decision to sell a huge block of Tesla shares and his refusal to buy Twitter for $44 billion. There is an assumption that the billionaire may need the money to avoid further lawsuits or terminate the deal if he loses.
In his account, the Tesla CEO responded to a user's question about whether he would buy back the stocks if the deal failed. The businessman answered positively. Notably, Twitter filed a lawsuit against Elon Musk at the end of July as he violated his deal to buy the company. The social network intends to pursue its goal in court. The entrepreneur in turn filed a countersuit against Twitter.
