Tesla Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his buyout of Twitter.
Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The documents didn’t indicate that the transactions were pre-planned.
The world’s richest person followed through with his takeover of the social-media platform in October, after spending months trying to get out of it. In August, Musk had said he was done offloading Tesla stock and that it was important to avoid an “emergency sale” of the shares in case he was forced to close the Twitter acquisition and struggled to bring in additional equity partners.
It’s not fully clear how the $44 billion deal ultimately was financed, beyond the roughly $13 billion of debt commitments from Wall Street banks. Several high-profile individuals promised to invest some $7
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