Musk sells Tesla shares worth $3.95bn days after Twitter takeover

Wed, 2022-11-09 08:18

RIYADH: Tesla Inc. CEO Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to US securities filings, days after he completed the $44 billion takeover of Twitter Inc.

Musk, the world’s richest man, had about $20 billion in cash after selling a part of his stake in Tesla and would have been required to raise an additional $2 billion to $3 billion to finance the Twitter deal, according to a Reuters calculation.

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