Elon Musk unloaded another batch of Tesla shares to help fund his buyout of Twitter, despite assurances from the CEO and single-largest shareholder that he was done offloading shares.
Billionaire Elon Musk unloaded another batch of Tesla shares to help fund his buyout of Twitter, bringing his sales of the electric-vehicle maker’s stock to about $36 billion in the past year.
Tesla shares gained less than 1% during pre-market trading in New York on Wednesday. The stock tumbled 46% this year through Tuesday's close, and has lost $600 billion in market capitalization since peaking last November But one thing's clear: Twitter is losing money and now faces annual interest payments of nearly $1.2 billion. Since Musk took over, several major companies have halted their ads on the platform, waiting to see how it evolves under the billionaire's leadership.
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