Elon Musk Sells Tesla Shares Worth $8.5 Billion Ahead of Twitter Takeover

[{"selector":"#anim-f4354440-acb4-4740-882a-93aa05ca10ca [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-6.587508117596535%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] By H.JanGra April 30, 2022

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[{"selector":"#anim-8e75533e-7ee2-4455-82fd-0704030b6cb0","keyframes":{"transform":["translate3d(115.33547%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-08c90298-a8a7-49cb-bfa2-fdf6d2cafdc0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1009e73-52fc-4f93-bff8-9cd06944a36d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] The sale came after Musk on Monday clinched a deal to buy Twitter for $44 in cash in a transaction

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[{"selector":"#anim-ab1f591d-fa9e-4236-b0bc-6df650f3f216 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Open

[{"selector":"#anim-c27fb083-8d22-4192-b781-b762c6525635","keyframes":{"transform":["translate3d(116.61342%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-be9614df-d947-42f2-b840-e1267190a716","keyframes":{"opacity":[0,1]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5896f395-d0c5-466d-b4b8-4a89747fff1e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ef8e7c95-fa62-43bd-a031-8c291a22cf07 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0.47242818971612976%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] It was not immediately clear how the billionaire would raise the remaining $12.5 billion (roughly Rs. 95,600 crore) of equity financing.

[{"selector":"#anim-7e38e06c-2206-4428-b0d5-81b1f2f45b26","keyframes":{"transform":["translate3d(105.20231%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7d91cb53-57a1-4ad0-b06b-1689b760fc3e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3982ea08-59cc-4dce-888b-79a1887680bc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-022c050d-164b-476d-bdf6-82708d90522a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Musk holds a 43.61 percent stake in unlisted rocket company SpaceX, which is reportedly valued at $100 billion (roughly Rs. 7,65,230 crore).

[{"selector":"#anim-f1303087-6787-4676-9539-ad3e02d37613","keyframes":{"transform":["translate3d(105.96205%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-751335e9-270e-4020-9c6c-6176a321ef63","keyframes":{"opacity":[0,1]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9106a847-0cf9-4d92-9263-9097bbcc2075","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-079a8e7f-5378-44d9-8e4a-5ae2875d231f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-4.79208923906781%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Tesla shares rose about 5 percent in morning trading on Friday. They have tumbled about 20 percent since Musk's disclosure of a more than 9 percent stake in Twitter on April 4.

[{"selector":"#anim-46cdfa20-cbb0-46a4-a53f-eafcefc1e354","keyframes":{"transform":["translate3d(103.79404%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3500ce85-8187-4ff5-b875-b410c96ac5f8","keyframes":{"opacity":[0,1]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c2e7cb31-ba6b-492c-883b-f92f137b60f7","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-0ca953e1-39b0-4fbe-be8c-af5525bf253a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(1.1244377777209422%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":1350,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] As part of the Twitter financing deal, Musk secured commitments for $13 billion (roughly Rs. 99,480 crore) in loans secured against Twitter and a $12.5 billion margin loan tied to his Tesla stock.