Elon Musk Reveals Additional $ 4.5 Billion Shares of Tesla Inc. in new regulatory deposits on Friday, raising the total amount it has allocated after its deal to buy Twitter Inc. to more than $ 8.5 billion. Tesla CEO boosted more than 5 million shares on April 28, according to new deposits. These followed the revelations late Thursday for sales of a total of 4.4 million shares in the previous two days. Musk has now sold $ 25 billion worth of shares to the electric car maker over the past six months. No other TSLA sales are scheduled after today – Elon Musk (@elonmusk) April 29, 2022 The richest man in the world reached an agreement on April 25 for the acquisition of Twitter for $ 44 billion using a financing plan that worries some Tesla investors. In addition to pledging tens of billions of dollars worth of shares in Tesla to support marginal lending, Musk has pledged to raise about $ 21 billion worth of stock. It is not clear how much of this would come from selling part of his stake in Tesla. The latest revelations come after Musk tweeted on Thursday that he “has no plans to sell further Tesla after today”. He still has time to file more forms 4 revealing additional discounts if more were made on Thursday. Tesla shares rose 4.9% to $ 920.29 at 10:25 a.m. Friday in New York, offsetting this week’s sharp drop. The deal with Twitter is set to be one of the largest leverage acquisitions in history, with Musk arranging $ 25.5 billion in debt financing and marginal lending from lenders, including Morgan Stanley. If it were to collapse, the party dissolving the agreement would have to pay a $ 1 billion termination fee, under certain conditions. Musk’s pursuit of Twitter has once again highlighted the extent to which Tesla’s valuation depends on how much its CEO is involved and invested in the business. He has been the head of the company since 2008 and has long been its largest shareholder. Tesla shares plummeted late last year as Musk landed more than $ 16 billion worth of shares, its first sale in more than five years. The discounts began in November after Musk polled Twitter users on whether he should limit his stake. With a fortune of $ 252.2 billion, Musk is the richest man in the world, according to the Bloomberg Billionaires Index. The recent drop in Tesla shares has shaved $ 18 billion from its net worth this year, although the auto industry reported better-than-expected earnings and opened new plants in Germany and Texas. (Updates with additional framework starting in the seventh paragraph.)
