Elon Musk needs $21 billion in cash to complete his Twitter takeover (the rest of the $44 billion deal is financed with debt and margin borrowing).
On Thursday, Musk sold part of his shares in Tesla. A lot of it.
According to forms filed with the SEC on Thursday, Musk sold billions of dollars worth of Tesla stock this week. Musk filed five forms with the SEC, with sales of about $4 billion or so. Sales began on April 26, the second day after Musk announced his acquisition of Twitter.
Musk responded to other customers after revealing the sales on Twitter. On twitter “No further TSLA sales are planned after today.”
Now, it’s possible that the Tesla stock sale is unrelated to the Twitter acquisition, but Musk needed to make a profit before completing the terms of his financing deal, it would be reasonable to assume that at least some of the proceeds from the sale will go to the media. social. company.
Assuming Musk closes the deal to buy Twitter, his plans for the service will remain opaque. He told the conference that he wanted it to be a haven for free speech, but also “as credible as possible” for all sectors of society.
“Twitter has become a kind of de facto town square, so it’s very important that people have a reality and a perception that they can speak freely within the law,” he said.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
