365NEWSX
365NEWSX
Subscribe

Welcome

Elon Musk Sells $7 Billion in Tesla Stock for Twitter Deal - The New York Times

Elon Musk Sells $7 Billion in Tesla Stock for Twitter Deal - The New York Times

Elon Musk Sells $7 Billion in Tesla Stock for Twitter Deal - The New York Times
Aug 10, 2022 1 min, 24 secs

Elon Musk, the chief executive of the electric vehicle maker Tesla, has sold about $7 billion worth of the company’s stock, a move he said on Twitter was an effort to raise cash in case he was forced to complete his $44 billion deal to acquire Twitter.

Musk revealed on Tuesday in securities filings, a reversal from his previous statements that he would not sell additional shares to finance the Twitter deal.

Musk signed the deal in April to acquire the social media company only to announce months later his intent to pull out, citing concerns about its accounting of fake users.

Musk to force him to close the deal through a provision of the contract known as “specific performance.” A judge in the Delaware Chancery Court will decide in October whether he must follow through on the acquisition.

Musk said he had sold the shares because, in “the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.” Mr.

Musk is the richest man in the world, but much of his wealth is tied up in shares of Tesla.

He also said Tuesday that he would buy more Tesla stock if his deal to buy Twitter did not close.

Musk sold about $8.5 billion shares in Tesla to help fund the deal, before tweeting that he had no further sales planned.

Musk said in May that he would pay for the Twitter acquisition with about $33.5 billion in cash, through a combination of his own funds, outside investors and partnership with other Twitter shareholders.

His sale of Tesla stock may mitigate those worries, said Ann M


1 Kim Jung Gi, the acclaimed comic book artist, dies in Paris at 47 of a 'sudden' heart attack - Daily Mail

Oct 05, 2022 # entertainment 1 min, 6 secs

2 Steve Lacy’s ‘Bad Habit’ Hits No. 1 on Hot 100, Sam Smith & Kim Petras, GloRilla & Cardi B Debut in Top 10 - Billboard

Oct 03, 2022 # entertainment 4 mins, 5 secs

3 Don't wait for Black Friday — this $899 MacBook Pro deal is the best I've ever seen - Tom's Guide

Oct 01, 2022 # technology 45 secs

4 WH Spox Kirby: We Need to Lessen Dependence on OPEC, That's Why Biden Issued Drilling Leases, and Is 'Working So Hard on Clean Energy'

Oct 05, 2022 # breaking 40 secs

5 UK's Liz Truss pledges tax-cutting future in landmark speech plagued by protest and political infighting - CNBC

Oct 05, 2022 # politics 1 min, 12 secs

6 Jair Bolsonaro, el mayor referente de la extrema derecha latinoamericana busca mantener viva la expectativa de una reelección

Oct 02, 2022 # breaking 1 min, 4 secs

7 Expert 'extraordinarily concerned' Russia could use nuclear weapons

Sep 30, 2022 # breaking 5 mins, 1 sec

8 ‘El Muerto’: Jonás Cuarón To Direct Bad Bunny In Sony’s New Marvel Film - Deadline

Oct 05, 2022 # entertainment 28 secs

9 House of the Dragon Deleted Scene Hints That Daemon Is a Disaster Bi - Gizmodo

Sep 29, 2022 # entertainment 26 secs

10 Pokemon Scarlet and Violet reveal new Pokemon Wiglett - Gematsu

Sep 29, 2022 # technology 13 secs

11 Amazon Fire TV Omni QLED vs. Samsung The Frame TV - CNET

Sep 30, 2022 # technology 36 secs

12 Kanye West makes runway debut during Paris Fashion Week - Page Six

Oct 02, 2022 # entertainment 37 secs

13 Hackers reportedly take down Killer Instinct's main online mode - EventHubs

Oct 03, 2022 # technology 33 secs

14 Cyberpunk 2077's revival continues as it becomes one of the most popular games on Steam Deck - Eurogamer.net

Oct 01, 2022 # technology 1 min, 44 secs

15 Science Adventure Fans Unite To Save Chaos;Head Noah From Unjustifiable Steam Ban - Noisy Pixel

Oct 02, 2022 # technology 56 secs

16 Venezuela releases 7 jailed Americans; US frees 2 prisoners

Oct 01, 2022 # breaking 24 secs
SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2022 365NEWSX - All RIGHTS RESERVED