Elon Musk sells $4 billion of Tesla (TSLA) shares, says no more sales planned

elon musk cyber rodeo
Credit: Tesla

After a few days of speculation that CEO Elon Musk may have been unloading some of his Tesla (TSLA) shares to help fund his purchase of Twitter, regulatory filings have confirmed he did just that.

According to five Form 4 filings with the U.S. Securities and Exchange Commission (SEC) published last night, Musk sold 4.413 million shares on April 26 and 27, 2022. Add it all up and the sale netted Musk approximately $4 billion.

Unlike his last share sale, Musk took to Twitter following the disclosure to say this was his one and only sale and that he has no plans for any more after today.

Although the filings don’t specify why Musk sold the shares, it is fairly obvious it was to put towards his purchase of Twitter.

On Monday the $44 billion buyout was unanimously approved by Twitter’s board of directors. The sale must now be approved by Twitter shareholders, a vote that must take place by October 24, 2022.

There is still the possibility that either side may pull out of the deal, but if they do that the offending party will have to pay the other side $1 billion.

You can see the five filings below.

000089924322015924-gen
000089924322015923-gen
000089924322015942-gen
000089924322015955-gen
000089924322015949-gen

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca