Elon Musk sells $6.9 billion worth of Tesla shares for Twitter trial.

The Tesla CEO admits that he might need the money if he loses his legal battle with Twitter and is forced to buy the social media network.

Elon Musk sold shares in Tesla worth $6.9 billion (£5.7 billion), admitting he might need the cash if he loses

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his legal battle with Twitter and is forced to buy the social media platform.

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Tesla's CEO backed out of a $44 billion deal to buy Twitter in July, but the company has since sued to force him to complete the deal. In October, a trial will be held in Delaware.

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While Twitter dispute observers projected whether Musk would seek a resolution, the step was taken.

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Because he had signed the contract to buy the business, legal experts think Musk will struggle to win his case. In order to avoid having to fork over $44 billion

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for a company he no longer wants to buy, he might decide to settle with Twitter for a sizable price.

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Several publications claim that between August 5 and August 9, Musk sold 7.92 million shares of Tesla.

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He presently owns 155 million shares, or slightly under 15% of Tesla.

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Musk has now sold about $32 billion worth of Tesla stock in less than a year with the most recent sales.

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According to the Bloomberg billionaires index, Musk is still far ahead of Jeff Bezos as the richest person in the world with an estimated $250 billion in wealth.

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Tesla shares have risen by over 15% after the company reported results that were higher than anticipated on July 20. The climate plan proposed by the Biden administration,

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which, if passed, would boost the maximum amount of tax credits for electric vehicles, has also contributed to this rise.

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