Elon Musk sold approximately $4 billion worth of Tesla stock in the two days after he agreed to buy Twitter, according to regulatory filings revealed late Thursday.
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Musk reported the sale in a filing with the Securities and Exchange Commission, The Associated Press reported. The shares were sold at prices ranging from $872.02 to $999.13, according to the AP.
Elon Musk sold roughly $4 billion worth of Tesla Inc. stock in the two days after agreeing to buy Twitter Inc. for $44 billion, according to regulatory filings made public late Thursday.
>> Twitter accepts Elon Musk’s offer to buy company
Before this week’s sales, Musk owned about 17% of the electric-vehicle maker, or more than 172 million shares, The Wall Street Journal reported, citing FactSet, a financial data company.
Musk responded to another user on Twitter after the sales were disclosed, according to The Hollywood Reporter.
“No further TSLA sales planned after today,” Musk tweeted.
The bulk of Musk’s sales was made on Tuesday, CNBC reported, citing the filing with the SEC. Tesla shares fell 12% that day but moved higher on Wednesday by less than a percentage point.
Musk has a net worth of $252 billion, according to the Bloomberg Billionaires Index. That makes him the world’s richest person, according to The Wall Street Journal. Much of his money is tied up in his companies, which include Tesla and SpaceX, the newspaper reported.
Musk, who does not draw a cash salary from Tesla, has described himself as cash-poor, according to The Wall Street Journal.
The billionaire made a bid to buy Twitter for approximately $44 billion to take the social media company private, CNBC reported. Musk offered $54.20 per share.
To complete the deal, Musk secured $25.5 billion of fully committed debt, including $12.5 billion in loans against Tesla stock.
The deal still requires shareholder and regulatory approval, according to CNBC.
Here are some memorable photos of SpaceX founder and CEO Elon Musk through the years.
2008: Tesla founder Elon Musk attends the launch party for the Tesla Roadster, the world’s first highway-capable all electric car available in the United States, at the Tesla Flagship Store on May 1, 2008, in Los Angeles.
2009: CEO Elon Musk (left) arrives at the Tesla UK launch on June 25, 2009, in London.
2010: Toyota CEO Akio Toyoda, Tesla Motors CEO Elon Musk and California Gov. Arnold Schwarzenegger laugh during a news conference at Tesla Motors headquarters May 20, 2010, in Palo Alto, California.
2011: Talulah Riley and Elon Musk attend the 2011 Orange British Academy Film Awards at the Royal Opera House on February 13, 2011, in London.
2012: Director Bryn Mooser, executive producer Elon Musk, executive producer Olivia Wilde and director David Darg of the film "Baseball in the Time of Cholera" attend the "Help Wanted" Shorts Program during the 2012 Tribeca Film Festival at the AMC Lowes Village on April 21, 2012, in New York City.
2013: CEO and CTO of SpaceX and CEO and Chief Product Architect of Tesla Motors Elon Musk participates in a discussion at the New York Times 2013 DealBook Conference in New York at the New York Times Building on November 12, 2013, in New York City.
2014: Actress Talulah Riley (left) and CEO of Tesla Motors Elon Musk attend the 2014 Vanity Fair Oscar Party hosted by Graydon Carter on March 2, 2014, in West Hollywood, California.
2015: Tesla CEO Elon Musk speaks during an event to launch the new Tesla Model X Crossover SUV on September 29, 2015, in Fremont, California.
2016: Elon Musk and actress Kate Hudson attend the 2016 InStyle and Warner Bros. 73rd annual Golden Globe Awards Post-Party at the Beverly Hilton Hotel on January 10, 2016, in Beverly Hills, California.
2017: Maye Musk (left) and SpaceX CEO Elon Musk attend the 2017 Vanity Fair Oscar Party hosted by Graydon Carter at Wallis Annenberg Center for the Performing Arts on February 26, 2017, in Beverly Hills, California.
2018: Elon Musk and Grimes attend the Heavenly Bodies: Fashion & the Catholic Imagination Costume Institute Gala at the Metropolitan Museum of Art on May 7, 2018, in New York City.
2019: SpaceX Chief Engineer Elon Musk (right) speaks with NASA Administrator Jim Bridenstine (center) while viewing the OctaWeb, part of the Merlin engine used for the Falcon rockets, at the SpaceX Headquarters, Thursday, Oct. 10, 2019, in Hawthorne, California.
2020: SpaceX founder Elon Musk celebrates after the successful launch of the SpaceX Falcon 9 rocket with the manned Crew Dragon spacecraft at the Kennedy Space Center on May 30, 2020, in Cape Canaveral, Florida.
2021: Tesla CEO Elon Musk and Armin Laschet, CDU Federal Chairman and Prime Minister of North Rhine-Westphalia, talk during a tour of the plant of the future foundry of the Tesla Gigafactory on August 13, 2021, in Grünheide near Berlin, Germany.