Musk sells $4B in Tesla shares, presumably for Twitter deal

FILE - A sign bearing the company logo outside a Tesla store in Cherry Creek Mall in Denver, Feb. 9, 2019. Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter.

DETROIT — Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter. Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. The shares were sold over the past few days, at prices ranging from $872.02 to $999.13.

The world’s richest man, who is the CEO of Tesla, tweeted that he doesn’t plan any further sales of the company’s shares.Analysts said Tesla investors fear Musk will be distracted by Twitter and less engaged in running the electric car company. Twitter agreed to be acquired by Musk on Monday for $44 billion.

It appeared that Musk would borrow up to $25.5 billion from a slew of banks to pay for the takeover of Twitter, but the stock sale potentially could fund some of that.The deal to buy Twitter at $54.20 per share was announced earlier this week and is expected to close sometime this year. But before the deal is completed, shareholders will have to weigh in. So will regulators in the U.S. and in countries where Twitter does business.

This is call busniss

cryborg We sold our shares for 67 a year ago. Bought at 18 in 2017. Very happy to not have a stake in the apartheid a-hole’s new toy.

That’s a good deal right there. You still going to make your money back

This megalomaniac is going to gloriously lose billions of dollars. Megalomaniacs always overreach.

Bullish for twitter and tesla. twitter at $54.20

Breaking: Tesla down 2.6% after hours trading.

1%-A drop in the bucket.

This is what he is buying.

If you are a gentleman of this world please stop eDreams from fraudulent and criminal actions around the world from stealing peoples money and offering nothing. Please investigate, they must not be allowed on Twitter to you now own.

When the company is going down, smart to dump.

lol

So, the other 40 billion he had just lying around...? I don't see the problem.

He’s just covering household bills, he’s not going to be able to close it.

The_Raven42 Wonder what the tax rate is on that sale?

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