Elon Musk needs to find $21 billion in cash to complete his purchase of Twitter. The remainder of the $44 billion deal is being financed with debt and a margin loan. According to multiple news sources.
So on Thursday, Musk sold a portion of his stock in Tesla, around $4 billion of it per forms filed with the SEC Thursday evening.
Musk filed five forms with the SEC, totaling around $4 billion in sales. The deals started on April 26, the day after Musk’s arrangement to buy Twitter was reported. Musk answered a fan on Twitter after the sales were revealed, saying “No further TSLA sales arranged after today.”
It is conceivable that the sale of Tesla stock was inconsequential to his acquisition of Twitter, yet with Musk needing to get that money to meet conditions of his arrangement with Twitter, It’s reasonable to expect at least a portion of the cash acquired will be going toward the Twitter buyout.
“File:Elon Musk’s Tesla Roadster (40110297852).jpg” by SpaceX is marked with CC0 1.0.