{"id":21079,"date":"2022-04-29T09:04:47","date_gmt":"2022-04-29T13:04:47","guid":{"rendered":"http:\/\/autosector.com\/?p=21079"},"modified":"2022-04-29T09:04:47","modified_gmt":"2022-04-29T13:04:47","slug":"musk-sells-4-billion-usd-worth-tesla-shares-no-further-sales-planned","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=21079","title":{"rendered":"Musk Sells $4B Worth Of Tesla Shares, “No Further Sales Planned”"},"content":{"rendered":"

Tesla CEO Elon Musk has sold almost $4 billion worth of shares in the EV maker, marking the first share sale since he offloaded $16.4 billion worth of stock in November and December 2021.<\/p>\n

The sale fuels speculation that the proceeds will go toward financing Musk’s planned $44 billion buyout of Twitter, which was announced on April 25 when the social media platform’s board agreed to accept the takeover offer from Elon Musk. <\/span><\/p>\n

Tesla shares fell by 13.5% over the past five days, closing at $877.51 on April 28, over worries that the billionaire could sell part of his stake in the carmaker to fund the Twitter deal.<\/span><\/p>\n

According to filings with the US Securities and Exchange Commission (SEC) made public on the evening of April 28, Elon Musk sold a total of 4.4 million Tesla shares on April 26 and 27, the days following his bid to take Twitter private<\/a>.<\/p>\n

While investors remain concerned that he may have to sell more Tesla<\/a> shares to help fund the takeover, Elon Musk tweeted yesterday that he had no plans to sell more stock in the electric vehicle carmaker.<\/p>\n

\u00a0<\/section>\n

The tweet suggests he might have sold some shares on April 28 as well; we’ll probably learn that later today when the disposals would have to be reported.\u00a0<\/p>\n

Tesla’s shares have fallen by around 20% since Musk revealed earlier this month that he had bought a 9.2% stake in Twitter.<\/p>\n

On April 26 alone, Tesla’s market capitalization lost more than $126 billion<\/a> after the Twitter board accepted Musk’s takeover offer. The Tesla CEO said he would commit $21 billion of his assets to help finance the $44 billion Twitter deal.\u00a0<\/p>\n

As part of the takeover agreement, Musk secured $25.5 billion of fully committed debt<\/a>, including $12.5 billion in margin loans tied to his Tesla stock; prior to that, he had already borrowed against about half of his Tesla shares.<\/p>\n

While Twitter accepted Elon Musk’s offer earlier this week, the deal still requires the approval of shareholders and regulatory bodies.<\/p>\n

According to the SEC regulatory filing, Musk would have to pay Twitter a termination fee of $1 billion if he fails to secure enough funding to complete the acquisition. On the other hand, if Twitter accepts a competing offer, or its shareholders reject the deal, the social media company would owe Musk $1 billion.\u00a0<\/p>\n

<\/section>\n
\"\"\/ <\/section>\n","protected":false},"excerpt":{"rendered":"

Tesla CEO Elon Musk has sold almost $4 billion worth of shares in the EV maker, marking the first share sale since he offloaded $16.4 billion worth of stock in November and December 2021. The sale fuels speculation that the proceeds will go toward financing Musk’s planned $44 billion buyout of Twitter, which was announced […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/21079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21079"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/21079\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21079"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}