This sale brought $ 4 billion to the co-founder of Tesla in the process of buying Twitter.
Elon Musk sold just over 4.4 million Tesla shares, of which he is the chief executive and co-founder, on Tuesday and Wednesday, a few hours after an agreement on his takeover of Twitter. This sale brought him about 4 billion dollars, according to documents filed with the American market regulator, the SEC.
According to these same documents, he kept, at the end of the operation, a little more than 168 million shares of the manufacturer of electric vehicles, via a trust. “No further TSLA (Tesla’s stock symbol) sales after today,” Elon Musk tweeted Thursday.
21 billion personal contribution
To finance the takeover of Twitter, for a total value of 44 billion dollars, Elon Musk has pledged to contribute up to 21 billion dollars of personal contribution, the rest being financed by debt. Many investors and analysts wonder about the effective realization of this operation.
The value of Twitter stock remains quite significantly lower than the price offered by Elon Musk, or $54.20. Thursday, it closed on Wall Street at $49.11. The market often interprets the difference between the price of an offer and the value of a security as the risk premium, the measure of the risk represented by the acquisition.