Categories: Business

Musk sells Tesla shares worth $3.95bn days after Twitter takeover


Wed, 2022-11-09 08:18

RIYADH: Tesla Inc. CEO Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to US securities filings, days after he completed the $44 billion takeover of Twitter Inc.

Musk, the world’s richest man, had about $20 billion in cash after selling a part of his stake in Tesla and would have been required to raise an additional $2 billion to $3 billion to finance the Twitter deal, according to a Reuters calculation.

Main category:
Business & Economy



Source link

gulftimes

Recent Posts

Moment earthquake shakes hospital operating room in Japan

Newly-released security camera footage shows the moment last month's magnitude 6.8 quake shook Kumamoto General…

5 hours ago

Artificial Intelligence used to design brand new viruses

Viruses are not alive and it would take another significant leap for AI to generate…

18 hours ago

Houthi attacks reportedly kill at least 30 Yemeni government forces

At least 30 Yemeni government troops are reported to have been killed in Houthi rebel…

21 hours ago

Rights groups say Israeli attack that killed Lebanese journalist an apparent war crime

Two human rights groups have said an Israeli attack in southern Lebanon that killed al-Akhbar…

22 hours ago

Security Council LIVE: Warnings of famine and collapse as South Sudan’s peace deal frays

Nearly eight million people in South Sudan – more than half the population – face…

24 hours ago

‘Wanton, intentional infliction of incredible pain’ by gangs in Haiti

That’s according to the Designated Human Rights Expert for Haiti, William O’Neill, who spoke to UN…

24 hours ago