lon Musk has offloaded nearly $7 billion (£5.8 billion) in shares in his Tesla electrical automobile firm forward of his multi-billion greenback court docket conflict with Twitter after he bailed out of his $44 billion bid for the social media website.
Twitter is suing Musk in a dispute that might finish with him being compelled to make good on his supply, or pay a $1 billion break payment to his spurned suitor. The US court docket must determine if claims from Musk that Twitter misled him concerning the variety of lively accounts on the are enough grounds for him to stroll away from the deal.
Musk can also be countersuing Twitter, in an try to halt its lawsuit towards him.
In an ironic twist to the dramatic saga, Musk confirmed his intentions round share sale in a tweet, answering a query asking if he was “finished promoting”, he replied: “Sure. Within the (hopefully unlikely) occasion that Twitter forces this deal to shut *and* some fairness companions don’t come by, you will need to keep away from an emergency sale of Tesla inventory.”
Twitter claims the demise of Musk’s bid, which it backed, hit its revenues and triggered chaos inside the firm.
