Billionaire Elon Musk, CEO of Tesla, sold about $4 billion worth of shares in the electric vehicle company in the two days after Twitter’s board of directors accepted his takeover offer.
According to documents published this Thursday by the US Securities Market Commission (SEC), Musk sold between Tuesday and Wednesday of this week more than 4.4 million shares of Tesla at a price that varied between 870 and the $1,000 per title.
Musk’s sales coincided with a sharp drop in the value of shares in Tesla , whose CEO owned around 17% of its capital before the week began.
“No more Tesla stock sales planned after today,” the South African billionaire wrote on his Twitter account Thursday as the figures were released.
— Whole Mars Catalog (@WholeMarsBlog) April 29, 2022
Musk, the richest man in the world according to the Forbes list , achieved his goal of taking over the social network Twitter on Monday, which he described as “the town’s digital square”, after the company accepted his purchase offer for 44,000 million dollars.
The head of Tesla, which has more than 9% of the shareholding of Twitter, launched on April 14 a sharp purchase offer, “the best and last”, at a rate of 54.20 dollars per share, which is finally what he will pay to through an entity.
The businessman of South African origin, very fond of this social network, has presented himself as a defender of “freedom of expression” on the platform and now seems to carry that mission as a flag in his new conquest, of which he has offered very few details.
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