Musk sells Tesla shares worth $5.5b days after Twitter takeover

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Tesla Inc Chief Executive Officer Elon Musk has sold US$3.95 billion (S$5.5 billion) worth of shares in the electric vehicle maker, according to US regulatory filings, days after he completed his purchase of Twitter Inc for US$44 billion. Musk, whose net worth dropped below US$200 billion after investors dumped Tesla stock, unloaded 19.5 million shares between Friday and Tuesday, filings...

Reuters

The latest share sale leaves Musk with a stake of roughly 14 per cent in Tesla, according to a Reuters calculation.The latest sale dump comes as analysts had widely expected Musk to sell additional Tesla shares to finance the Twitter deal. This would have required him to raise an additional US$2 billion to US$3 billion to finance the takeover, according to a Reuters calculation.

 

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