Saudi Press

Saudi Arabia and the world
Saturday, Aug 02, 2025

Elon Musk sells nearly $7B in Tesla shares as Twitter legal battle rages on

Elon Musk sells nearly $7B in Tesla shares as Twitter legal battle rages on

Musk's Tesla shares sale comes as he prepares to go to court in October over his $44 billion Twitter takeover deal

Elon Musk has sold more Tesla shares worth nearly $7 billion, according to regulatory filings.

Tesla's CEO sold 7.92 million shares in the electric vehicle maker, months after announcing he wasn't going to sell any more shares.

Musk indicated in a tweet response that the share sale was done in case some financing fo the purchase of Twitter was needed.

Musk sold around 7.9 million shares between Friday and Tuesday, the disclosures show.

Musk still has a 15% stake in the company. In all, he owns 155.04 million shares in Tesla.


The Tesla CEO went on a selling spree in April as he was lining up financing for his $44 billion purchase of Twitter, which he has attempt to retreat from since July.

In April, Musk tweeted, "No further TSLA sales planned after today."

Elon Musk's Twitter profile displayed on a computer screen and Twitter logo displayed on a phone screen.


This past weekend, Musk said the deal to buy Twitter may still go ahead, if the details on the social media platform's actual user accounts can be confirmed.

Musk wants to know how many are ‘spam bots’ and how many are real people.

Musk has accused Twitter of misleading his team about the true size of its user base and other problems he said amounted to fraud and breach of contract.

A sign is pictured outside the Twitter headquarters in San Francisco.


Twitter sued him last month to complete the acquisition and Musk counter sued.


The two sides are headed to a trial on October 17 in a Delaware court.

Tesla shares have risen nearly 15% since the automaker's July 20 better-than-expected earnings report.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×