STR | Nurphoto | Getty Images Elon Musk sold $3.95 billion worth of shares in electric car company Tesla after closing on his $44 billion acquisition of Twitter. According to filings with the Securities and Exchange Commission, Musk sold 19.5 million Tesla shares. In addition to pouring billions of his own capital into taking Twitter private, Musk has relied on partners including equity investors Binance, Ron Baron’s BAMCO, Andreessen Horowitz, former Twitter CEO Jack Dorsey and Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia, to finance the deal. , or dump their existing shares in his holding company for Twitter. On August 9, 2022, Musk told his fans that he was done selling stock to finance a potential deal with Twitter. He wrote, in a tweet, “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t, it’s important to avoid an emergency sale of Tesla stock.” At the time, Musk was still battling Twitter in court to try to get out of the deal — which he proposed and agreed to in April. Since taking over at Twitter, Musk has brought in dozens of Tesla engineers to help him at Twitter with code review and other tasks. This is breaking news. Check back for updates.
