Tesla chief Elon Musk sold about $8.4 billion worth of shares in the electric carmaker in the days after Twitter's board agreed to his $44 billion takeover offer, according to US securities filings.
Musk unloaded about 9.6 million Tesla shares in a series of transactions Tuesday, Wednesday and Thursday, according to filings Thursday and Friday morning with the Securities and Exchange Commission, the US market regulator. The transactions, generally priced between $800 and $995 per share, following Monday's announcement he would acquire Twitter and take it private in a deal that relies heavily on Musk's personal fortune.
Following these sales, Musk, the world's richest person, holds around 163 million shares in Tesla, via a trust.To finance his takeover of Twitter, which was confirmed Monday, Musk has pledged up to $21 billion from his personal fortune, with the rest financed by debt.That is still well below Musk's offer of $54.20 a share in the deal, a discrepancy that market watchers say points to the risk the deal will not close.
Some analysts have expressed doubts over whether the deal will be completed, including questions about the financing and concerns that Twitter would distract Musk from running Tesla.We live in a world where facts and fiction get blurred, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
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Elon Musk ends week with Tesla stock sales of $8.5bnMusk has now disposed of more than $24bn worth of stock in the electric-car maker during the last six months I never believed bitcoin was real until I was introduced into by julianna_wallet I started with R15,000 now I'm making R67,456.67 every week I'm really grateful 🙏🙏
Source: BDliveSA - 🏆 12. / 63 Read more »
Elon Musk ends week with Tesla stock sales of $8.5bnMusk has now disposed of more than $24bn worth of stock in the electric-car maker during the last six months I never believed bitcoin was real until I was introduced into by julianna_wallet I started with R15,000 now I'm making R67,456.67 every week I'm really grateful 🙏🙏
Source: BDliveSA - 🏆 12. / 63 Read more »