New Delhi: Tesla CEO Elon Musk has teased the launch of a new social media website named X.com amid a legal battle with Twitter.
X.com a. used to be the domain name of Founding Startup Musk Two decades ago, which he later merged with financial services company PayPal.
Asked if he thought of creating his own social platform, if Twitter deal doesn’t come throughMusk replied: “X.com.”
After selling nearly $7 billion worth of shares in his electric vehicle company, the Tesla and SpaceX CEO said he would repurchase Tesla stock if the Twitter deal doesn’t close.
When asked by a user on the microblogging platform if he was selling Tesla stock, the tech billionaire replied in the affirmative.
Musk wrote on Twitter, “Yes. (Hopefully unlikely) In the event that Twitter forces this deal to close *and* some equity partners don’t come, it is important to avoid an emergency sale of Tesla stock.”
Meanwhile, responding to another user who asked, “If the Twitter deal doesn’t close, will you buy Tesla stock again,” Musk replied, “Yes.”
According to a report, Musk sold 7.92 million company shares worth about $6.88 billion.
Musk’s transaction took place between August 5 and August 9, a US Securities and Exchange Commission (SEC) filing revealed, following Tesla’s 2022 annual shareholder meeting in Austin, Texas, on August 4.
Musk and Twitter are locked in an intense legal battle over the cancellation of a $44 billion takeover deal, and a five-way process will begin in a US court on October 17.