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Elon Musk Sold $8.5 Billion in Tesla Shares after Twitter Deal

Elon Musk vendió $8.500 millones en acciones de Tesla tras acuerdo con Twitter

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Billionaire Elon Musk, CEO of Tesla, sold about $8.5 billion in shares of the electric vehicle company in the three days after Twitter’s board of directors accepted his buyout offer.

According to documents released in recent hours by the Securities and Exchange Commission (SEC), Musk sold between Tuesday and Thursday of this week more than 9.6 million Tesla shares at a price ranging from $820 to $1,000 per share.

Yesterday, it became known that Musk had sold between Tuesday and Wednesday some $4.4 billion worth of shares.

After this sale in three days, the entrepreneur keeps in his possession 163 million shares, about 16% of the company’s stock.

“No further Tesla sales planned after today,” Musk wrote on his Twitter account on Thursday when the figures were published, so it is understood that these would be the final figures of the transaction.

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Tesla shares were up 3.25% today after a sharp fall yesterday.

Musk, the richest man in the world according to the Forbes list, last Monday achieved his goal of taking over the social network Twitter, which he called the digital village square, after the company accepted his offer to buy it for 44 billion dollars.

Musk plans to pay $21 billion out of pocket and the rest by taking out bank loans.

The Tesla boss, who holds more than 9% of Twitter’s shares, launched a blunt “best and final” buyout offer on April 14 at $54.20 per share, which he will eventually pay through a bank.

The South African-born businessman, who is very fond of this social network, has presented himself as a defender of freedom of expression on the platform.