Elon Musk, the CEO of Tesla, has sold around $8.5 billion (£6.8 billion) in company’s shares in the electric carmaker, only days after agreeing to acquire Twitter.
The transaction has fueled rumors that it may help him fund his $44 billion acquisition of the social networking company.
Mr Musk’s buyout bid was accepted by Twitter’s board of directors on Monday.
Tesla’s stock plummeted earlier this week on suspicion that Elon Musk may sell a portion of his share in the company to finance the transaction.
He said in a tweet on Thursday evening that he has no intentions to sell any more of his Tesla stock.
Mr Musk sold a lot of 9.6 million Tesla shares this week, according to filings with the US Securities and Exchange Commission. Or more 15% of the corporation is still owned by the billionaire.
Elon Musk, the CEO of Tesla, has sold around $8.5 billion (£6.8 billion) in company’s shares too in the electric carmaker, only days after agreeing to acquire Twitter.
The transaction has fueled rumors that it may help him fund his $44 billion acquisition of the social networking company.
Mr Musk’s buyout bid was accepted by Twitter’s board of directors on Monday.
Tesla’s stock plummeted earlier this week on suspicion that Elon Musk may sell a portion of his share in the company to finance the transaction.
He said in a tweet only on Thursday evening that he has some no intentions to sell any more of his Tesla stock.
Mr Musk sold a lot of 9.6 million Tesla company shares this week, according to filings with the US Securities and Exchange Board. Or more 15% of the corporation is still owned by the billionaire.
