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Elon Musk sells 4.4 million Tesla shares after Twitter takeover

Elon Musk sold 4.4 million shares of Tesla this week after his acquisition of Twitter for $44 billion, according to new documents filed by the Securities and Exchange Commission.

The sales, made on Tuesday and Wednesday, were worth a total of $3.99 billion, Bloomberg reported.

After the filings were made public on Thursday, Musk tweeted “No further TSLA sales are expected after today.”

Musk’s offloading of Tesla shares came after Twitter’s board on Monday agreed to Musk’s $44 billion buyout.

The Tesla CEO said his goal was to take the company private and restore the social media platform’s adherence to free speech.

Financial experts believe the world’s richest man must sell Tesla stock to cover the $21 billion equity portion of the deal that he personally guaranteed, according to Bloomberg.

After the trade, Musk tweeted “No further TSLA sales are expected after today.”

New York Post

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