Tesla CEO Elon Musk sold 4.4 million shares of $ 3.99 billion worth of electricity, according to US stocks on Thursday, in a sale that could help him with his Twitter purchase. Musk wrote on Twitter shortly after the press release that “there are no more Tesla sales scheduled for today.”
Tesla lost ground on Thursday amid investors’ concerns that Musk might have to sell Tesla shares in support of his $ 21 billion equity contribution to his purchase of Twitter Inc. Elon Musk posted about 4.4 million shares on April 26 and April 27.
Musk and Twitter reached an agreement on Monday that the richest man in the world had bought a communications company. The agreement was unanimously approved by the company board, and is expected to be finalized later this year. Musk has secured $ 25.5 billion in debt and margin loans and will provide an estimated $ 21 billion to fund the deal.
“Freedom of speech is the foundation of a functioning democracy, and Twitter is a digital city forum where important issues for the future of humanity are discussed,” Musk said in a statement on Monday. “Twitter has great potential – I look forward to working with the company and the user community to open it.”
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