Concern over Elon Musk’s Twitter takeover wipes $126bn off Tesla value
by Guardian staff and agency from on (#5YKG9)
Fears that carmaker's CEO may have to sell shares to fund $44bn acquisition of social network
Investors have wiped $126bn (100bn) off Tesla's value amid concern that Elon Musk may have to sell shares in the electric carmaker to fund his personal contribution to his $44bn acquisition of Twitter.
Tesla stock has been targeted despite the company not being involved in the bid but Musk, its chief executive and largest shareholder, is part-funding the Twitter deal with $21bn of his own equity and a further $12.5bn loan secured against his Tesla stake.
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