Elon Musk sells Tesla shares worth $8.5 billion to fund Twitter takeover
Musk sold 5.6% of stake to raise money for Twitter deal
By Arghyadeep Dutta
Published - Apr 29, 2022, 09:25 PM ET
Last Updated - Feb 24, 2024, 05:38 AM EST
Musk has committed a $21 billion cash contribution to takeover social media platform
Tesla Inc (NASDAQ: TSLA) Chief Executive Elon Musk sold $8.5 billion worth of shares in the electric carmaker, which is estimated will help the billionaire finance his planned purchase of Twitter Inc (NYSE: TWTR).
In SEC filings posted on Thursday and Friday, Musk said he sold about 9.6 million shares this week or about 5.6% of his stake in the company.
Musk on Thursday tweeted, "no further TSLA sales planned after today".
