Carry him, carry him! Musk sells 8.5 billion dollars in shares after agreement to buy Twitter – El Financiero

Elon Musk disclosed an additional $4.5 billion worth of Tesla stock in new regulatory filings on Friday, bringing its total share sales this week to $8.5 billion following its deal to buy Twitter.

The Tesla CEO sold more than 5 million shares on April 28, according to the new documents. That followed Thursday night’s revelations of sales totaling 4.4 million on April 26 and 27.

With this, Musk has gotten rid of more than 24 billion dollars in shares of the electric car manufacturer during the last six months.

The world’s richest man reached an agreement on Monday to acquire Twitter for $44 billion through a financing plan that has alarmed some Tesla investors. In addition to pledging tens of billions of dollars in his Tesla stock to back margin lending, Musk has pledged to align about 21 billion dollars in capital to buy Twitter. It has been unclear how much of that would come from the sale of a portion of his Tesla stake.

The latest revelations come after Musk tweeted on Thursday that he had “no further Tesla sales planned.” Since these sales took place on that day, that was technically correct even if shareholders were not yet aware of the full extent of the divestments.

Tesla shares rise 5.10 percent with a cutoff at 9:00 a.m. Mexico City time.



Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

On Key

Related Posts