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Musk sells Tesla shares worth $8.5 bln, says no more sales planned - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Tesla Inc Chief Executive Officer ElonMusk sold $8.5 billion worth of shares in the electric vehicle maker, US securities filings showed, in sales likely aimed at helping finance his planned purchase of Twitter.

Musk said in a tweet on Thursday that there are “no further TSLA sales planned after today”. He sold about 9.6 million shares this week, according to the filings on Thursday and Friday, equating to 5.6% of his stake in the company.

Musk has been looking for partners to reduce his equity contribution to the deal, a person familiar with the matter told Reuters, adding that it is far from certain such a partner will emerge. Musk said on Twitter that he would pay more than $11 billion in taxes in 2021 due to his exercise of stock options set to expire this year.

 

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He will be selling a lot more to finance his vanity project

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Business Maverick: Musk’s Tesla-Stock Sales Double to $8.5 Billion in Latest TallyElon Musk disclosed an additional $4.5 billion worth of Tesla Inc. stock sales in new regulatory filings Friday, bringing the total he’s disposed of in the wake of his deal to buy Twitter Inc. to more than $8.5 billion.
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