Elon Musk announced in a new regulatory filing on Friday that Tesla had sold an additional 5 4.5 billion worth of stock, a deal he had agreed to in a deal worth more than .5 8.5 billion.
As of April 28, Tesla’s CEO had offloaded more than 5 million shares, according to new filings. A total of 4.4 million shares have been sold in the last two days since the late release on Thursday.
Kasturi has now sold about $ 25 billion worth of stock to electric-car makers in the last six months.
The world’s richest man reached an agreement on April 25 to acquire Twitter for 44 44 billion using a financing plan that has alarmed some Tesla investors. In addition to pledging several billion dollars in its Tesla shares to support margin debt, Musk has pledged to line up equities worth about 21 21 billion. It is unknown at this time what he will do after leaving the post.
The latest revelations came after Musk tweeted on Thursday that he had “no plans to sell Tesla after today.” He has more time to file Form 4 if he sells more on Thursday.
Shares of Tesla fell 0.8% in New York on Friday, dropping to 13% since closing April 22, the biggest weekly drop since November.
The Twitter deal is set to become one of the largest leveraged purchases in history, with Musk securing $ 25.5 billion in loans and margin-loan financing from lenders, including Morgan Stanley. If it breaks down, the party to the breach of contract will have to pay a closing fee of $ 1 billion in certain circumstances.
On Twitter, Musk’s pursuit reiterated that Tesla’s valuation depends on how his CEO got involved and invested in the business. He has been the head of the company since 2008 and has long been its largest shareholder.
Tesla’s stock fell late last year as Musk offloaded শেয়ার 16 billion worth of shares, its first sale in more than five years. The decision began in November after Twitter users voted on whether Musk should cut his shares.
According to the Bloomberg Billionaires Index, with a fortune of 2 252.2 billion, Musk is the richest man in the world. The recent slump in Tesla shares has cut নেট 18 billion from its net worth this year, with carmakers even reporting expected earnings from opening new plants in Germany and Texas.