Elon Musk unloads $8.4 billion of Tesla stock to finance Twitter takeover
Elon Musk sold around $8.4 billion worth of his shares in Tesla this week as he seeks to line up the money to buy Twitter, according to filings with the US Securities and Exchange Commission. But the billionaire claims he won’t sell any more Tesla stock “after today.”
Musk sold the bulk of his shares on Tuesday and Wednesday, offloading 4.4 million shares, the filings show. He sold another 5.2 million shares on Thursday, after which he tweeted, “No further TSLA sales planned after today.”
Tesla’s share price plummeted 12 percent on Tuesday and has since inched up higher. The stock was up about 3.9 percent on Friday.
On April 25th, Twitter’s board of directors accepted Musk’s offer of $54.20...