AP Texas

Musk sells $8.5B in Tesla stock as he readies to buy Twitter

Published April 29, 2022 1:42 PM

Associated Press

In the three days after he announced he had a deal to buy Twitter, Elon Musk has sold $8.5 billion worth of Tesla to help fund the purchase. Musk reported the sales in filings with the Securities and Exchange Commission on Thursday and Friday. Analysts say the deal could make Tesla investors nervous that Musk, who is the electric vehicle maker’s CEO, will be distracted by Twitter and less engaged in running Tesla. Musk is also Tesla’s largest shareholder and there is also concern that he would have to unload a large number of Tesla shares to finance the acquisition.

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