Tesla Elon Musk Sold Shares To Fund Twitter Deal Here Is How Much

Tesla CEO Elon Musk sells shares in the company.

        Getty Images

Investors now know one reason why Tesla stock is falling – CEO Elon Musk had a lot of stock to sell. Musk revealed the sale of Tesla shares (ticker: TSLA) on Thursday night in the 4s form submitted to the Hellenic Capital Market Commission. A Form 4 is used to disclose sales by company management and other corporate confidential agents.
Musk sold 4.4 million Tesla shares worth about $ 4 billion, possibly to fund part of the Twitter market (TWTR). Musk sold his stock on April 26 and 27, according to Form 4, which is usually submitted within days of the sale. Musk’s $ 54.20 bid for Twitter was accepted by the board of the social media platform earlier in the week. The entity that Musk created to buy Twitter will be funded with about $ 25 billion in debt and $ 21 billion in equity. The way in which Musk would finance the share capital has been hotly debated by analysts and investors. It turns out that part of this amount was financed by the sale of Tesla’s share of Musk. He announced on Twitter on Thursday afternoon that he did not intend to sell other shares. This may be a relief for Tesla investors. According to Wedbush analyst Dan Ives, Musk’s potential sales were a surplus for Tesla. Tesla shares have fallen about 12% since Musk’s offer was accepted. The S&P 500 and Nasdaq Composite have fallen about 0.2% and 1% over the same period. The $ 4 billion is much less than the total $ 21 billion mentioned in the Twitter merger documents. This could mean that some other sources will be involved in the deal in order to raise the remaining $ 21 billion in equity required for the purchase. The rest of the money could come from a combination of Musk cash – from cryptocurrency profits or something – existing Twitter shareholders staying with Musk or associates willing to invest in Musk’s side. Tesla shares fell 0.5% on Thursday, closing at $ 877.51 after trading at $ 821.70. The stock fell 2.6% in later trading to $ 854.50. Musk still owns about 168 million Tesla shares, not counting the more than 100 million stock options granted as part of the 2018 compensation package. Musk does not like to use brokers to organize secondary sales. He sold his stock in about 140 separate, smaller transactions. This is not the way big stock blocks are usually sold, but it is the way Musk sold shares in 2021. These sales were about exercising options and speeding up tax payments on unrealized gains. capital. Write to Al Root at [email protected]

title: “Tesla Elon Musk Sold Shares To Fund Twitter Deal Here Is How Much Klmat” ShowToc: true date: “2022-11-23” author: “Ruben Craft”

Tesla CEO Elon Musk sells shares in the company.

        Getty Images

Investors now know one reason why Tesla stock is falling – CEO Elon Musk had a lot of stock to sell. Musk revealed the sale of Tesla shares (ticker: TSLA) on Thursday night in the 4s form submitted to the Hellenic Capital Market Commission. A Form 4 is used to disclose sales by company management and other corporate confidential agents.
Musk sold 4.4 million Tesla shares worth about $ 4 billion, possibly to fund part of the Twitter market (TWTR). Musk sold his stock on April 26 and 27, according to Form 4, which is usually submitted within days of the sale. Musk’s $ 54.20 bid for Twitter was accepted by the board of the social media platform earlier in the week. The entity that Musk created to buy Twitter will be funded with about $ 25 billion in debt and $ 21 billion in equity. The way in which Musk would finance the share capital has been hotly debated by analysts and investors. It turns out that part of this amount was financed by the sale of Tesla’s share of Musk. He announced on Twitter on Thursday afternoon that he did not intend to sell other shares. This may be a relief for Tesla investors. According to Wedbush analyst Dan Ives, Musk’s potential sales were a surplus for Tesla. Tesla shares have fallen about 12% since Musk’s offer was accepted. The S&P 500 and Nasdaq Composite have fallen about 0.2% and 1% over the same period. The $ 4 billion is much less than the total $ 21 billion mentioned in the Twitter merger documents. This could mean that some other sources will be involved in the deal in order to raise the remaining $ 21 billion in equity required for the purchase. The rest of the money could come from a combination of Musk cash – from cryptocurrency profits or something – existing Twitter shareholders staying with Musk or associates willing to invest in Musk’s side. Tesla shares fell 0.5% on Thursday, closing at $ 877.51 after trading at $ 821.70. The stock fell 2.6% in later trading to $ 854.50. Musk still owns about 168 million Tesla shares, not counting the more than 100 million stock options granted as part of the 2018 compensation package. Musk does not like to use brokers to organize secondary sales. He sold his stock in about 140 separate, smaller transactions. This is not the way big stock blocks are usually sold, but it is the way Musk sold shares in 2021. These sales were about exercising options and speeding up tax payments on unrealized gains. capital. Write to Al Root at [email protected]