Elon Musk Sells Another $3.95 Billion Worth of Tesla Shares After Twitter Takeover

Contact Your Elected Officials
The Epoch Times Header

Elon Musk has sold millions more shares in Tesla, according to three separate forms filed with the Securities and Exchange Commission this month.

CEO Musk sold 19.5 million shares of the electric vehicle maker, worth $3.95 billion, from Nov. 4 to Nov. 8, the filings show.

The share sell-off comes after Musk took over social media platform Twitter in a $44 billion deal last month.

Musk sold $8.4 billion in shares in April, and at the time wrote on Twitter that there were “no further TSLA sales planned after today.” However, in August, he sold just under $7 billion of his Tesla stock to help fund the Twitter purchase, along with financing from a string of major banks, including Morgan Stanley, the Bank of America, and Barclays.

In August, Musk stated on Twitter that he sold the shares “in the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”

Musk was embroiled in a legal battle with Twitter executives at the time over the number of fake bot accounts on the platform and had attempted to step away from the deal.

Overall, the businessman has sold more than $19 billion worth of Tesla stock since April, when he disclosed his stake in Twitter, including those in Tuesday’s filings.

The majority of Musk’s wealth is tied up in shares of Tesla, which have dropped by more than 50 percent since the start of this year. Despite this, he is still the world’s richest person, with a net worth of $197.4 billion, according to the Forbes real-time billionaire list.

Changes Underway at Twitter 

Musk has initiated a string of changes to Twitter since taking over the company, including laying off multiple employees and changing how user accounts are verified. He has also launched an $8 per month subscription fee for Twitter’s “Blue” service in the United States.

By Katabella Roberts

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Democrats are Losing by Pushing Their Dirty CR Bill

Talk is going around about the “Democrats Dirty CR” and the “Republicans Clean CR”.

NCAA streamlines transfer portal

The NCAA lords of the Division I Administrative Committee have unveiled a fresh batch of transfer portal reforms.

Section 230 Immunity, Defective Design and Trial Lawyers (Part 2)

Congress granted social media platforms Section 230 immunity even when children are harmed, trial lawyers found a way to bypass protection.

A Tale Of Two Political Parties

While the GOP, led by Trump, has produced results, Democrats offer horrible policies and candidates, presenting a vivid contrast to the American people. 

The Case for Western Islam

The suggestion of a expression of Islam which emerges from western culture is one that comes from a place of love.

Democrats are Losing by Pushing Their Dirty CR Bill

Talk is going around about the “Democrats Dirty CR” and the “Republicans Clean CR”.

Biden Undergoing Radiation, Hormone Treatment for Prostate Cancer

Former President Biden has begun receiving a combination of radiation and hormone treatments for prostate cancer, spokesperson announced.

Homan Says DOJ Probing Funding Behind ‘Organized’ Attacks on ICE

Border czar, Homan said DOJ launched an investigation into funding for what he called “organized” attacks on federal immigration enforcement agents.

There Are No Survivors in the Blast at a Tennessee Explosives Factory, Sheriff Says

The blast in rural Tennessee that leveled an explosives plant and was felt for miles around left no survivors, authorities said Saturday

Trump Names Longtime Adviser Dan Scavino to Key Personnel Position

One of President Trump’s longtime advisers, Dan Scavino, is going to be in charge of selecting and appointing key positions within the executive branch.

First Lady’s Effort Helped Reunite 8 War-Displaced Children With Their Families

First lady Melania Trump said 8 children impacted by the fighting between Ukraine and Russia were reunited with their families on Oct. 9.

Trump to Impose New 100 Percent Tariff on China on Nov. 1

President Trump said that the US will impose an additional 100 percent tariffs on Chinese goods and export controls on critical software starting on Nov. 1.

Trump Admin Agrees to $20 Billion Rescue Plan for Argentina

The U.S. government has finalized a $20 billion economic rescue plan for Argentina, Treasury Secretary Scott Bessent announced on Oct. 9.
spot_img

Related Articles

Popular Categories

MAGA Business Central