Elon Musk Sold Tesla Shares Worth 4 Billion After Twitter Buyout

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Elon Musk Sold Tesla Shares Worth 4 Billion After Twitter Buyout

Elon Musk Sold Tesla Shares Worth $4 Billion After Twitter Buyout

Elon Musk has made news once again after selling 19.5 million Tesla shares which are worth close to 4 billion. This was done after Elon Musk purchased the social media platform Twitter.

The selling of Tesla shares by Elon Musk was carried out between 4 - 8 November. In other words, Elon Musk got $4 billion from selling Tesla stock right after his Twitter buyout.

Overall, experts believe that Elon Musk sold Tesla stock worth $20 billion in April. And it was the same month when the billionaire made an offer to buy the Twitter platform.

In August, Elon Musk sold Tesla shares worth $7 billion and at that time, he said that it was to raise cash for buying the Twitter platform. However, the next few months were spent on a legal battle between Elon Musk and Twitter since he was trying to back away from the deal.

Eventually, Elon Musk took control of Twitter by paying billions of dollars. Ever since taking control of the social platform, Elon Musk has fired thousands of employees and even introduced multiple revenue streams for the company. However, there is still a tough road ahead for Elon Musk as some big advertisers have announced that they will not spend money on advertising.

Recently, a famous expert told the media that if more advertisers leave the Twitter platform, it will force Elon Musk to sell more Tesla stock.

Right now, Tesla stock is trading near the $190 level and lost around 2.9% during the Tuesday trading session. Overall, Tesla stock has lost 46% of its value since this year.

So based on this information, it appears that Elon Musk is trying to raise some capital by selling his stake in Tesla. However, this is also reducing his share in the Tesla company, which means that he can't continue with this strategy forever! Furthermore, any selling done by him also sends the Tesla stock lower, which ultimately decreases the stock value in the markets.

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