(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc.
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Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The filings didn’t indicate that the transactions were pre-planned.
Musk, the world’s richest person, said in August he was done offloading Tesla stock. He told a Twitter follower it was important to avoid an “emergency sale” of Tesla shares in case he was forced to close the acquisition of the social-media network and struggle to bring in additional equity partners.
Still, some had speculated that the billionaire would sell more stock to shore up the deal. He’s unloaded about $36 billion worth of shares in the past year — around half of that since he went public with his Twitter buyout plan, according to data compiled by Bloomberg.
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Source: https://finance.yahoo.com/news/musk-sells-3-95-billion-013319464.html