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| Elon Musk sells $8.5bn worth of Tesla shares | Elon Musk sells $8.5bn worth of Tesla shares |
| (about 1 month later) | |
| Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. | Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. |
| The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform. | The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform. |
| Twitter's board agreed on Monday to accept a takeover offer from Mr Musk. | Twitter's board agreed on Monday to accept a takeover offer from Mr Musk. |
| Shares in Tesla fell sharply earlier this week, amid speculation that Mr Musk would sell part of his stake in the carmaker to fund the deal. | Shares in Tesla fell sharply earlier this week, amid speculation that Mr Musk would sell part of his stake in the carmaker to fund the deal. |
| He tweeted on Thursday evening that he had no plans to sell any more of his shares in the electric carmaker. | He tweeted on Thursday evening that he had no plans to sell any more of his shares in the electric carmaker. |
| Filings to the US Securities and Exchange Commission showed that Mr Musk sold a total of 9.6 million Tesla shares this week. The multi-billionaire still owns more than 15% of the company. | Filings to the US Securities and Exchange Commission showed that Mr Musk sold a total of 9.6 million Tesla shares this week. The multi-billionaire still owns more than 15% of the company. |
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| The move marked his first sale of Tesla shares since he offloaded $16.4bn worth of stock in November and December last year. | The move marked his first sale of Tesla shares since he offloaded $16.4bn worth of stock in November and December last year. |
| That came after he asked his nearly 89 million Twitter followers whether he should sell 10% of his stake in the electric car maker. | That came after he asked his nearly 89 million Twitter followers whether he should sell 10% of his stake in the electric car maker. |
| Tesla's shares have fallen by around 20% since Mr Musk revealed earlier this month that he had bought a 9.2% stake in Twitter. | Tesla's shares have fallen by around 20% since Mr Musk revealed earlier this month that he had bought a 9.2% stake in Twitter. |
| Twitter adds users as it gears up for Musk takeover | Twitter adds users as it gears up for Musk takeover |
| Tesla shares slide could put Twitter deal at risk | Tesla shares slide could put Twitter deal at risk |
| Who is Elon Musk? | Who is Elon Musk? |
| On Tuesday alone, more than $125bn was wiped off the car maker's stock market value after the social media firm's board accepted his takeover offer. | On Tuesday alone, more than $125bn was wiped off the car maker's stock market value after the social media firm's board accepted his takeover offer. |
| Mr Musk said he would commit $21bn of his assets to help finance the $44bn deal. | Mr Musk said he would commit $21bn of his assets to help finance the $44bn deal. |
| Investors expected he would sell Tesla shares to help fund the takeover. | Investors expected he would sell Tesla shares to help fund the takeover. |
| Mr Musk is the world's richest person, with an estimated net worth of almost $250bn, mostly due to his Tesla stake. | Mr Musk is the world's richest person, with an estimated net worth of almost $250bn, mostly due to his Tesla stake. |
| He also has a more than 40% stake in the rocket company SpaceX, which is estimated to be worth $100bn. | He also has a more than 40% stake in the rocket company SpaceX, which is estimated to be worth $100bn. |
| You may also be interested in: | You may also be interested in: |
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| Who is Elon Musk? Meet the meme-loving magnate behind SpaceX and Tesla...published in 2021 | Who is Elon Musk? Meet the meme-loving magnate behind SpaceX and Tesla...published in 2021 |
| Who is Elon Musk? Meet the meme-loving magnate behind SpaceX and Tesla...published in 2021 | Who is Elon Musk? Meet the meme-loving magnate behind SpaceX and Tesla...published in 2021 |
| Related Topics | Related Topics |
| Companies | Companies |
| Mergers and acquisitions | Mergers and acquisitions |
| Elon Musk | Elon Musk |
| Tesla | Tesla |