The latest disclosures come after MuskThursday that he has “no further Tesla sales planned after today.” He still has time to file more Form 4s disclosing additional sales if more took place on Thursday.
Tesla shares climbed 4.9% to $920.29 as of 10:25 a.m. Friday in New York, paring this week’s steep decline. The Twitter deal is poised to be one of the biggest leveraged buyouts in history, with Musk arranging $25.5 billion of debt and margin-loan financing from lenders including Morgan Stanley. If it were to fall apart, the party breaking up the agreement would be required to pay a termination fee of $1 billion, under certain circumstances.Musk’s pursuit of Twitter has once again highlighted the extent to which Tesla’s valuation hinges on how involved and invested its CEO is in the business.
With a $252.2 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index. The recent slump in Tesla shares has shaved $18 billion off his net worth this year, even as the carmaker has reported better-than-expected earnings and opened new plants in Germany and Texas.