EXCITING NEWS: TNG WhatsApp Channel is LIVE…
Subscribe for FREE to get LIVE NEWS UPDATE. Click here to subscribe!
Following the purchase of Twitter for $44 billion, Elon Musk, CEO of Tesla Inc, has reportedly sold Tesla shares worth $4 billion.
The Verge, reports that Musk has offloaded almost $20 billion from Tesla to mainly finance the Twitter deal which was worth $44 billion.
In April and August, Elon Musk has sold a combined $15.4 billion worth of Tesla shares, with $8.4 billion in April and around $6.9 billion in August. However, after these sales, he said that there were no more sales planned.
With regards to these sales, Musk also tweeted, “No further TSLA sales planned after today.”
His takeover of Twitter has also invited drastic measures like the sacking of almost 50 per cent of Twitter’s workforce, a verification fee.
According to a Reuters report, Musk’s net worth also dropped below $200 billion on Tuesday as investors dumped Tesla’s shares on fears of the Chief Twit being more preoccupied with Twitter. The report reads, “Now Wall Street fears that Musk has stretched himself too thin at a time when the EV maker is ramping up production and faces rising competition.”
Musk now has a net worth of $197.4 billion, according to Forbes, with a big share of that coming from his nearly 15 percent stake in Tesla, which has a market value of $622billion.