Musk sells Tesla shares at $4 bn likely to buy Twitter
By TOI Team April 29, 2022 Update on : April 29, 2022
Elon Musk, the top richest person on the earth, has sold 4.4 million shares of Tesla stock at approximately $4 billion, presumably to help fund his bid to purchase Twitter.
Elon Reeve Musk, who is a visionary investor, entrepreneur and business magnate in the world, Thursday, reported the sale to the Securities and Exchange Commission.
The shares were sold over the past 5-day, at prices ranging between $872.02 and $999.13.
Elon Musk, who is the CEO of Tesla, tweeted that he does not plan any further sales of the company’s shares in the future.
Most of the sale of the shares happened on Tuesday, a day when Tesla shares closed down 12 percent, a huge single-day drop in the recent time.
Experts said the Tesla investors are worried about Musk’s craziness to buy Twitter and they lost their encouragement in running the electric car company.
Twitter decided to be attained by Musk on Monday for $44 billion.