9 November | Trades

Elon Musk sold Tesla shares for $3.95 billion after buying Twitter

Only a few days after completing the acquisition of Twitter Inc., Elon Musk, who is also the CEO of Tesla Inc., sold the electric-vehicle producer’s shares in the amount of at least $3.95 billion.

According to regulatory documents, this transaction was the first sale of Tesla shares by Musk since August. In total, 19.5 million shares were sold, however, regulatory documents do not contain information that current transactions were planned in advance.

Being the richest man in the world, he made a statement in August that he was no longer going to sell Tesla shares. According to Musk, in the event that he is forced to close the acquisition of Twitter and strive to attract new partners for the transaction, it is essential to prevent the “emergency sale” of Tesla shares.

Nevertheless, certain expectations were associated with the selling of more shares of the company by the billionaire. According to Bloomberg, as a result of the sale of Tesla shares over the past year, Musk has earned about $36 billion. In addition, approximately half of the indicated amount was received in April of this year after the disclosure of plans to acquire Twitter.

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