Musk Sold $4 Billion Of Tesla Stock Following Twitter Deal

Elon Musk has sold 4.4 million shares of Tesla stock (worth around $4 billion) in the days following the Twitter board’s decision to accept his $44 billion all-cash takeover bid. Musk disclosed the sale in a Securities and Exchange Commission filing on Thursday. The shares, which were sold at values ranging from $872.02 to $999.13 during the past four days, were the first sold by the Tesla CEO since a late-year selling frenzy that garnered more than $16 billion (which were offsetting tax payments on vesting options). In the midst of a lot of talk about forced Tesla sales and margin calls, it appears that Musk’s sales were intended at assuaging fears that the deal would fall through – and launch a wave of ‘fire-sales,’ as he tweeted late Thursday: “No further TSLA sales planned after today.” No further TSLA sales planned after today — Elon Musk (@elonmusk) April 29, 2022 The terms of the Twitter purchase call for him to pay nearly $21 billion in cash, though the deal isn’t likely to finalize for another six months. Musk is paying for Twitter partly with his own money and the rest using a combination of a buyout loan and a loan against his Tesla equity, as previously stated. According to the Bloomberg Billionaires Index, Musk has a net worth of $252 billion, making him the world’s richest person.The post Musk Sold $4 Billion Of Tesla Stock Following Twitter Deal first appeared on Cryptoknowmics-Crypto News and Media Platform.The...