Elon Musk sold $4 billion of Tesla shares

On Thursday, multiple filings indicate that the Chief Executive Officer of Tesla Elon Musk sold Tesla shares worth $4 billion over two days. Elon Musk sold around 4.4 million shares of the EV giant on April 26 and 27, just days after the popular microblogging platform, Twitter accepted the billionaire's $44 billion offer to take the company private. After the news surfaced in the media, the World’s Richest man tweeted, "No further Tesla sales planned after today.”  Musk sold these shares to fund his acquisition of Twitter.

Earlier, Aaron Weinman reported that Tesla CEO needed to make use of his Tesla stock to raise $21 billion in equity to fund his $44 billion acquisition of the social media platform. According to the report, out of the $44 billion, $13 billion will be from debt, while another $12.5 billion will come through a margin loan with his Tesla shares as collateral. On the other hand, Musk's latest takeover of Twitter is making Tesla's shareholders nervous. They're concerned that Twitter's inability to generate income will in turn compel the billionaire to turn elsewhere to raise more money to pay the debt needed to finance the privatization deal.