Elon Musk sells $8.5bn-worth of Tesla shares after Twitter deal
by Dan Milmo and Mark Sweney from Technology | The Guardian on (#5YP91)
Carmaker's shares fell this week over concerns CEO would offload stock to help fund takeover of platform
Elon Musk has sold $8.5bn (6.8bn) worth of shares in Tesla as the world's richest man raises cash after reaching a deal to buy Twitter.
The Tesla chief executive has committed $21bn of his own money to the funding package for acquiring the social media platform, which he agreed to buy for $44bn on Monday. Since then Musk has sold 9.6m Tesla shares, or about 5.6% of his stake in the business, according to filings with the US financial regulator.
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