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Wednesday, December 7, 2022
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Musk Sells $8 Billion Tesla Stock to Help Fund Twitter Deal

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Elon Musk sold billions of dollars’ worth of Tesla stock this week to help fund his $44 billion Twitter takeover, according to public filings.

He offloaded roughly $8 billion worth of shares on Tuesday and Wednesday, the most recent days for which data was available.

Some of Musk’s acolytes expressed frustration online about the stock dump, pointing to a 2013 tweet about Tesla in which he said, “just as my money was the first in, it will be the last out.”

“No further TSLA sales planned after today,” the billionaire tweeted on Thursday evening, though it is possible he sold shares on Thursday that have not yet been disclosed.

The shares he sold on Tuesday went for an average of $903.58 per share, or about $400 million less than they had been worth on Monday, when the Twitter deal was announced and Tesla closed at $998.02.

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