Detroit – Elon Musk has sold 4.4 million shares of Tesla stock worth about 4 4 billion, which will probably help finance his Twitter purchase.
The sale of the mask was announced in a filing with the Securities and Exchange Commission on Thursday. The shares have been selling over the last few days, with prices ranging from $ 872.02 to $ 999.13.
The richest man in the world, the CEO of Tesla, has tweeted that he has no plans to sell shares of the company.
Most were sold on Tuesday, when Tesla shares closed down 12%, a huge one-day drop.
Analysts say Tesla investors fear Musk will be distracted by Twitter and less likely to run an electric car company. Twitter on Monday agreed to acquire Mask for 44 billion.
It appears that Musk will borrow up to 25.5 billion from several banks to pay for Twitter’s takeover, but the stock sale could potentially fund some of that.
The deal to buy Twitter at $ 54.20 per share was announced earlier this week and is expected to close sometime this year. But before the deal can be done, shareholders have to weigh in. Regulators will do the same in the United States and in the countries where Twitter does business.
So far, however, some objections have been raised, despite objections from some of Twitter’s own employees and users, who are concerned about Mask’s position on freedom of speech and what it could mean for harassment and hate speech on the platform.