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Elon Musk Sells About $4b Tesla Shares, After Twitter Acquisition

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Elon Musk Announces Plan To Permanently Suspend Some Twitter Accounts

Fresh information has emerged that the new owner of the microblogging platform, Twitter, Elon Musk has sold about $4 billion worth of shares in Tesla.

Naija News understand that Securities and Exchange Commission filings revealed the move by the Tesla chief yesterday.

Sales of the shares in the electric car company followed his final acquisition of Twitter for the sum of $44 billion .

Available reports disclosed that documents filed with the United States SEC on Tuesday indicated that he had disposed of more than 19 million shares, in excess of $3.9 billion.

According to AFP, Musk has been pushing for ways to pay for the massive deal, for which he took on billions of dollars in debt and earlier sold $15.5 billion worth of shares in Tesla.

He took control of Twitter and fired its top executives in late October after a drawn-out back-and-forth between the world’s richest person and the influential social media company.

Musk before the completion of Twitter was reported to have tried to withdraw from the deal after his unsolicited offer was accepted in April.

However the Tesla chief in July made moves to cancel the contract because he claimed Twitter had misled him over the number of fake “bot” accounts, allegations rejected by the company.

Musk then sought to terminate the sale, but Twitter filed a lawsuit to hold the billionaire to the agreement. With a trial looming, he revived his takeover plan.