Tesla chief Elon Musk has sold other big bundles of stock in the electric car maker in the middle of his Twitter takeover bid. He sold a total of about 9.6 million shares of Tesla this week, raising about $8.4 billion, according to SEC filings. He wrote on Twitter Friday evening after that, however, no further sale is planned for the time being.
Musk did not give any reasons for selling shares in several large transactions in the documents. According to a Securities and Exchange Commission filing, the tech billionaire transferred 4.4 million shares of Tesla stock on Tuesday and Wednesday, and another 5.2 million shares on Thursday.
However, he has now committed to bringing in his own money amounting to $21 billion to buy Twitter. It is still not clear how exactly he wants to raise them. Musk still holds 168 million shares of Tesla after the latest sale. He wants to use part of it to secure a $12.5 billion loan, which is also intended to fund the Twitter deal.
Musk made a total of $46.5 billion in funding commitments to buy Twitter. He agreed to a takeover with the online service, but he still counted on enough shareholders to give him his stock at $54.20.
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