New York: Tesla boss Elon Musk has sold shares worth around $4 billion in total in the electric car maker, going by filings with the regulator.
About 4.4 million shares were offloaded on Tuesday and Wednesday, the filings with the Securities and Exchange Commission revealed.
Shortly after the filings, Musk said there are “no further TSLA sales planned after today”. Musk offloaded the shares, equating to 2.6 per cent of his stake in the company, on April 26 and April 27, according to the filings.
Analysts suspected that Musk may need to sell some part of his holding in Twitter, to cover the $21 billion equity portion of the deal that he has personally guaranteed.
Elon Musk and Twitter Inc. reached an agreement on April 25 for the world’s richest man to buy the social networking platform for $44 billion.
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