Elon Musk offloads 4.4 million Tesla shares after Twitter buyout

TechnologyElon Musk offloads 4.4 million Tesla shares after Twitter...


Elon Musk sold 4.4 million Tesla shares this week after his $44 billion acquisition of Twitter, according to new Securities and Exchange Commission filings.

The sales, made Tuesday and Wednesday, were worth a total of $3.99 billion, Bloomberg reported.

After the filings were made public Thursday, Musk tweeted “No further TSLA sales planned after today.”

Musk’s offloading of Tesla shares came after Twitter’s board accepted Musk’s $44 billion buyout on Monday.

The Tesla CEO has said his goal is to privatize the company and restore the social media platform’s adherence to free speech.

Finance experts believe the richest man in the world needs to sell Tesla stock to cover the $21 billion equity portion of the transaction that he personally guaranteed, according to Bloomberg.

After the trade, Musk tweeted “No further TSLA sales planned after today.”
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