Elon Musk has sold off a whopping 8
Elon Musk sells $4 billion in Tesla shares to finance Twitter takeover
Elon Musk has sold off a whopping $8.5 billion in Tesla stock this week as he prepares to acquire Twitter for $44 billion – but he insists that the rest of his stake in the electric car maker will remain untouched for now. Securities filings revealed Friday that Musk sold 5.2 million Tesla shares via open-market transactions that occurred on Thursday. That brings the total to 9.6 million shares after earlier disclosures detailed earlier stock sales worth $4 billion on Tuesday and Wednesday. The stock sales in total amounted to 5% of his stake in Tesla, currently worth $8.5 billion. This is big news in the world of social media what will this mean for Tesla? What will this mean for Twitter?
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