Elon Musk Sells Billions of Dollars in Tesla Shares to Pay for Twitter – The Hollywood Reporter

Elon Musk must provide you with $21 billion in money with the intention to full his buy of Twitter (the remainder of the $44 billion deal is being financed with debt and a margin mortgage).

So on Thursday, Musk bought a few of his inventory in Tesla. Loads of it.

According to varieties filed with the SEC Thursday night, Musk bought billions of {dollars} value of Tesla inventory this week. Musk filed 5 varieties with the SEC, totaling round $4 billion in gross sales, per a tough estimate. The gross sales started on April 26, the day after Musk’s deal to amass Twitter was introduced.

Musk responded to a different person on Twitter after the gross sales have been disclosed, tweeting “No further TSLA sales planned after today.”

Now, it’s doable that the sale of Tesla inventory was unrelated to his buy of Twitter, however with Musk needing to provide you with money forward of the shut underneath the phrases of his financing settlement, it’s cheap to imagine that a minimum of a number of the cash earned from the gross sales will likely be going towards the social media firm.

Assuming Musk closes the deal to purchase Twitter, his plans for the service stay opaque. He advised a convention that he desires it to be a haven free of charge speech, but additionally “maximally trusted” by all elements of society.

“Twitter has become kind of the de facto town square, so it is just really important that people have the reality and the perception that they are able to speak freely within the bounds of the law,” he stated.

Source hyperlink

Leave a Reply

Your email address will not be published.