Doesn't sound like he's having a great time of it lately. His mounting legal cases seem to be a huge distraction for both Tesla and Twitter shareholders.
But it had to be done as it's looking increasingly likely he'll be forced to buy Twitter.
Elon tweeted about his $6.9 billion share sale - "In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,"
Also, this point is interesting - X.com as a potential social network if he manages to can the twitter deal.