Business

Elon sells Tesla shares worth $4 billion, says no more sales planned

Tesla Inc lost ground on Thursday amid investor concerns that Musk may have to sell Tesla shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc.

Reuters

New York: Tesla Inc Chief Executive Officer Elon Musk sold 4.4 million shares of the electric vehicle maker worth $3.99 billion, US securities filings showed on Thursday, in sales likely to help finance his planned purchase of Twitter.

Musk said in a tweet that there are "no further TSLA sales planned after today."

Tesla Inc lost ground on Thursday amid investor concerns that Musk may have to sell Tesla shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc.

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