 of Tesla stock just days after closing his tumultuous takeover of Twitter. The world's richest person offloaded 19.5m shares for a total of $3.95bn earlier this month, according to new filings. Mr Musk completed his takeover of Twitter in October after trying for months to get out of it. He has since sacked roughly half the workforce and announced a string of major changes to the social media site. The latest sale means Mr Musk has offloaded around $20bn of Tesla stock since taking a stake in Twitter. In August, the billionaire said he was done selling Tesla stock and that it was important to avoid an 'emergency sale' of the shares. It is still not clear how the $44bn acquisition was funded, beyond the roughly $13bn of debt commitments from Wall Street banks. However, Twitter is losing money and now faces huge annual interest payments, while several major brands have halted advertising on the platform. Read the latest updates below.){kind=link}
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Elon Musk has sold almost $4bn (£3.5bn) of Tesla stock just days after closing his tumultuous takeover of Twitter.
The world’s richest person offloaded 19.5m shares for a total of $3.95bn earlier this month, according to new filings.
Mr Musk completed his takeover of Twitter in October after trying for months to get out of it. He has since sacked roughly half the workforce and announced a string of major changes to the social media site.
The latest sale means Mr Musk has offloaded around $20bn of Tesla stock since taking a stake in Twitter. In August, the billionaire said he was done selling Tesla stock and that it was important to avoid an “emergency sale” of the shares.