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: Elon Musk sells nearly $4 billion in Tesla stock following Twitter deal

Elon Musk sold nearly $4 billion in Tesla Inc. stock this week, after reaching an agreement with Twitter Inc.’s board of directors to buy the company for $44 billion.

In a series of filings with the Securities and Exchange Commission released late Thursday, the CEO disclosed he sold about 4.4 million Tesla shares
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this week. Sale prices varied from $870 to $1,000 a share.

In a tweet late Thursday, Musk said “No further TSLA sales planned after today.”

On Monday, Twitter
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said it had accepted Musk’s buyout bid at $54.20 a share, a roughly 38% premium as of April 1, when Musk disclosed his 9% stake in the social-media company.

Musk said he’d personally chip in about $21 billion, leading to speculation that he would sell another significant chunk of his Tesla stake. That sent Tesla stock sinking, approaching weekly losses of about 15%.

At the end of last year, Musk sold about 15.8 million shares, worth about $16 billion, as he divested 10% of his stake in Tesla to help pay a reported $11 billion tax bill.

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