Tech

Elon Musk sells $8.5bn worth of Tesla shares

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Posted: 30/04/22 - 00:01
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Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter.

The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform.

Twitter's board agreed on Monday to accept a takeover offer from Mr Musk.

Shares in Tesla fell sharply earlier this week, amid speculation that Mr Musk would sell part of his stake in the carmaker to fund the deal.

He tweeted on Thursday evening that he had no plans to sell any more of his shares in the electric carmaker.

Filings to the US Securities and Exchange Commission showed that Mr Musk sold a total of 9.6 million Tesla shares this week. The billionaire still owns more than 15% of the company.

I Call True: Easy true that this sale is to help fund the Twitter take-over. Must be nice to have more money than to know what to do with eh!

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3 Comments
26 days
2 upvotes
He certainly has the collateral to finance this deal, so should be no issue there.
27 days
2 upvotes
That is some serious cash to be moving around.
27 days
2 upvotes
Tesla shares will bounce back and even with the woke brigade moaning about him and Twitter I bet the share price of that rockets too