Elon Musk, the CEO of Tesla and the new owner of Twitter, has reportedly sold nearly $4 billion worth of Tesla shares.
According to Tuesday’s (Local Time) filings with the Securities and Exchange Commission, Musk, who paid US$44 billion ($74 billion NZD) for Twitter, sold 19.5 million shares of the electric car company between November 4 and November 8.
I SOLD US $ 7 BILLION ($ 11.
In August, as he worked to finance the Twitter purchase he was attempting to avoid, he sold $7 billion NZD) of his Tesla stock. Overall, Musk has sold shares of Tesla worth more than US $ 19 billion ($ 32 billion NZD) since April, including those listed in Tuesday’s filings, likely to pay for his portion of the Twitter acquisition.
Most of Musk’s Wealth is ted up in Shares of Tesla Inc.
According to Forbes, His personal net worth fell below US $ 200 billion ($ 337 billion nzd) on Tuesday, but he is still the Richest Man in the World.
MORGAN STANLEY WAS ONE OF THE BANKS MUSK HAD SCHEDULED TO HELP FINANCE THE TWITTER DEAL. His original Share of the Deal was about US $ 15. 5 billion ($ 26. 1 Billion Nzd), Wedbush Analyst Dan Iives Estimated. However, Musk would be responsible for finding replacement equity investors or using more of His Own Money.
Tesla’s Shares CLOSED DOWN US $ 5. 78 ($ 9. 74 NZD), OR 2. 9%, AT $ 191. 30 ($ 322. 20 NZD). Since the beginning of the year, the stock has lost 52% of its value. The S&P 500 Index, in contrast, has lost about 20% of its value so far this year.
Tesla stock valued at $3.95 billion is sold by Elon Musk
About Author
