Tuesday, November 29, 2022
HomeDigit NewsMusk sells Tesla shares worth $4 billion after buying Twitter

Musk sells Tesla shares worth $4 billion after buying Twitter

The world’s richest man Elon Musk has sold shares worth at least $3.95 billion in electric car maker Tesla, just days after he bought Twitter. Musk is the chief executive officer of this company. He said in August that he would sell Tesla shares only if he was forced to buy Twitter.

In the regulatory filing made by the company Told It has been reported that Musk has sold about 1.95 crore shares. However, it has not been given whether there was already a plan for this or not. According to a Bloomberg report, Musk, who bought Twitter for about $ 44 billion, has taken a loan of about $ 13 billion from American banks for this. Apart from this, some high net worth investors have promised him to invest about $ 7 billion in the company. However, it is not known whether these people have made this investment or not.

Since Musk took over Twitter, many big companies have stopped advertising on Twitter. An email sent to Musk in this regard did not elicit a reply. Automobile company Stellantis has informed to stop all advertisements on Twitter. Stellantis says she is waiting to see how the platform turns out under the leadership of Twitter’s new owner.

Stellantis, formed from the merger of Fiat Chrysler and PSA, has said it is pausing ads until it is clear about Twitter’s future under the new leadership. Musk has stated that his Twitter The company’s revenues have come down significantly since taking control of the company. Earlier, General Motors, luxury car maker Audi of America and United Airlines had announced the closure of ads on Twitter. Volkswagen, one of the largest automakers, said last week that it has asked its brands to stop advertising on the platform after Musk bought Twitter. The Volkswagen Group has popular brands such as VW, Seat, Cupra, Audi, Lamborghini, Bentley, Ducati and Porsche. Earlier, other companies including General Motors had also made similar comments about Twitter.

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