--- title: "In Order to Avoid the Twitter Fire Sale, Elon Musk had Sold Tesla Shares Worth $6.9 Billion" description: "Elon Musk has sold $6.9 billion of his shares in Tesla Inc. considered to be the biggest sale on record. He did so as there was a requirement of cash." author: "Siddhi Shaw" published: 2022-08-10 canonical: https://www.mindstick.com/news/1851/in-order-to-avoid-the-twitter-fire-sale-elon-musk-had-sold-tesla-shares-worth-6-9-billion category: "technology" tags: ["twitter", "technology", "share", "stock price valuation"] reading_time: 3 minutes --- # In Order to Avoid the Twitter Fire Sale, Elon Musk had Sold Tesla Shares Worth $6.9 Billion **Elon Musk** has sold **$6.9 billion** of his shares in **Tesla Inc**. which was considered to be the biggest sale on record. He mentioned that he did so as he was in the requirement of cash in case he was forced to go ahead along with his aborted deal to buy for **Twitter**. ``` HIGHLIGHTS Tesla's CEO has offloaded around 7.92 million shares on August 5 Musk has been terminating the agreement to buy the social network Musk has sold around $32 billion worth of stock in Tesla over the past 10 months ``` [Elon Musk](https://www.mindstick.com/news/1738/elon-musk-to-get-sued-by-twitter-as-it-hires-us-law-firm-wachtell) has tweeted on **Tuesday** after the sales were revealed in a series of regulatory filings, “**In the event that Twitter had forced this deal to get close and some equity partners do not come through, it's vital to avoid an emergency sale of Tesla stock**.” He has been asked by his followers that if he was done selling and would purchase [Tesla](https://www.mindstick.com/news/1762/german-court-had-ordered-tesla-to-reimburse-customers-autopilot-issues) stock once more if the **[$44 billion](https://www.mindstick.com/news/1728/elon-musk-abandoned-the-44billion-deal-to-buy-twitter)** [deal](https://www.mindstick.com/news/1728/elon-musk-abandoned-the-44billion-deal-to-buy-twitter) does not shut. Well, Musk had responded “**Yes**” as the answer to the follower’s question. ![In Order to Avoid the Twitter Fire Sale, Elon Musk had Sold Tesla Shares Worth $6.9 Billion](https://www.mindstick.com/usernews/645947/503074ce-e7f6-45e8-bc80-ee8a6b30398c/images/05023630-a84a-457d-8f1f-28e1ff5fb57c.jpeg)\ As per the new filings, [Tesla's CEO](https://www.mindstick.com/news/1102/elon-musk-tesla-ceo-says-he-sold-enough-stock-slams-california-for-overtaxation) has offloaded around **7.92 million** shares on **August 5**. The sale would come simply for four months after the world's [richest person](https://yourviews.mindstick.com/view/86768/adani-group-founder-gautam-adani-is-once-again-asia-s-richest-person) had mentioned that he had no future plans to sell Tesla shares after disposing of **$8.5 billion** of stock within the wake of his initial stock to purchase Twitter. Last month Musk has mentioned that he was terminating the agreement to buy the [social network](https://www.mindstick.com/articles/12698/how-to-use-social-networks-to-sell-more-at-christmas) where he has over **102 million** followers and would take it to private, claiming that the company has been making “**misleading representations**” over the number of spam bots on the service. Since, [Twitter](https://www.mindstick.com/news/1813/twitter-is-all-set-to-raise-the-blue-subscription-price) has sued to force Musk to consummate the deal, and the trail in the **Delaware Chancery Court** has been set for **October**. In **May**, Musk had dropped the plans to partially fund the acquisition with a margin loan which was tied to his Tesla stake and which had increased the size of the equity component of the deal to **$33.5 billion**. Previously, he had declared that he secured **$7.1 billion** of equity commitments from investors which would include **Larry Ellison**, **Sequia Capital** and **Binance**. Currently, Musk has sold around **$32 billion** worth of [stock](https://www.mindstick.com/news/1451/stock-exchange-of-thailand-is-about-to-bring-crypto-related-service-soon) in Tesla over the past **10 months**. The disposals had already started in **November** when Musk, a prolific Twitter user had polled users of the platform on whether or not he should be trimming his stake. Well, the purpose of the most recent sales has not been clear yet. Tesla shares have witnessed a rise of about **35 percent** from recent lows that had reached in **May**, even though the shares were still down by **20 percent** this year. Also Read: [Due to Company’s ‘Overall Liquidity’ Tesla had Sold 75 Percent of its Bitcoin Holding](https://www.mindstick.com/news/1778/due-to-company-s-overall-liquidity-tesla-had-sold-75-percent-of-its-bitcoin-holding) --- Original Source: https://www.mindstick.com/news/1851/in-order-to-avoid-the-twitter-fire-sale-elon-musk-had-sold-tesla-shares-worth-6-9-billion Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.