Elon Musk has sold $6.9bn (£5.7bn) of shares in his electric vehicle maker Tesla as his battle with Twitter continues.
Mr Musk sold about 7.92 million shares between Aug. 5 and Aug. 9, according to multiple filings, meaning he now owns 155.04 million shares of the company.
In April, the richest man in the world announced a plan to buy Twitter for $44 billionBut he tore up the deal in July, sending shares in the technology company well below the amount he had agreed to pay for them.
At the time, Twittersaid the company was “committed to completing the transaction at the agreed price and terms”, and said he would take legal action.
The both sides head to trial October 17.
Mr Musk sold $8.5 billion worth of Tesla shares in Aprilsubsequently stating that he was not considering any further sales.
But legal experts have suggested that if he loses his fight with Twitter and is forced to make the acquisition or pay a hefty fine, he may have to sell even more Tesla stock.
The tycoon claims that Twitter did not provide him with enough information regarding the number of fake – spambot – accounts on its site.
And he says he failed in his obligations by firing senior executives and laying off a significant number of workers.
Twitter says Mr Musk is trying to pull out because he agreed to pay 38% above Twitter’s share price just before the stock market fell.
And shares of electric car maker Tesla, where most of his personal wealth resides, have lost more than $100 billion in value.