Elon Musk Sells $3.6 Billion Of Tesla Stock, TSLA Down 55% In 2022 via insideevs.com
, Musk tweeted"no further TSLA sales planned after today." Then in August, he replied"yes" when asked if he was done selling. Including the latest sale, he has offloaded almost $40 billion of Tesla stock since late last year. Tesla shares have plunged 55 percent this year as investors grow increasingly concerned about Musk's $44 billion purchase of Twitter.
The billionaire pledged to provide $46.5 billion in equity and debt financing for the purchase of Twitter to cover the $44 billion price tag and the closing costs. Banks, including Morgan Stanley and Bank of America Corp, committed to providing $13 billion in debt financing. Musk's $33.5 billion equity commitment included his 9.6 percent Twitter stake, which is worth $4 billion, and the $7.1 billion he had secured from equity investors, including Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal., Twitter has big new bills to pay. The company's debt load has risen to about $13 billion, up from $1.5 billion beforeThe social media platform now faces annual interest payments approaching $1.
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