Fundraising exercise for Twitter: Elon Musk sold 44 lakh shares of Tesla, tweeted saying - I will not do this now


Posted on 29th Apr 2022 03:21 pm by rohit kumar

Elon Musk, the world's richest person, has started raising funds to complete the deal with the microblogging platform Twitter. Under this, he has once again sold the shares of his company Tesla. This information has come to the fore from US securities filings. It said that Musk has sold 4.4 million shares of the company.

 

$4 billion in sales

 

It has been said in the filing that Elon Musk has sold 44 lakh shares of Tesla Inc and their sale has been done for $ 3.99 billion or more than 30 thousand crore rupees. Significantly, Musk has sold shares of Tesla several times before. According to the information, these shares have been sold on Tuesday and Wednesday. In the report, it has been termed as a fund-raising exercise for Elon Musk's Twitter deal.

 

 

Musk tweeted this big thing only

 

A tweet has also been made by Elon Musk after the news of selling the shares surfaced. In this, he has confirmed the recent sale of Tesla's shares and has said not to do such work in the future. The world's biggest billionaire and Tesla CEO have said in his tweet that there are no further plans to sell Tesla shares after today.

 

Twitter deal for $ 44 billion

 

It is worth noting that recently Elon Musk has made a deal with the microblogging platform Twitter. In the past, he had bought a 9.2 percent stake in Twitter and a few days later he bought the entire Twitter. This deal has been done for $ 44 billion (Rs 3.37 lakh crore). He is believed to have sold shares of his company to help finance his planned purchase of Twitter.

 

Experts expressed this estimate

 

After news of the sale of Tesla shares came into the limelight, experts in the deal say that Elon Musk may also have to deal with his holding in Twitter to cover $21 billion in equity from the $44 billion Twitter deal. Is. Musk personally gave this guarantee as well. Along with this, let us tell you that due to the big fall in the shares of Tesla, such news is also in the discussion that this deal may be canceled.

 

Huge loss immediately after the deal

 

Let us talk here that with the seal of the deal with Twitter, Tesla's shares have dealt a blow to Musk. Since this deal, the share price has been falling badly. Tesla's value fell by more than three times the amount of Twitter's deal, or $44 billion, as shares fell on Tuesday and Wednesday. Shares had lost 12 percent on Tuesday alone and the company's market cap fell by $100 billion to $906 billion.

 

Preparations for big layoffs in Twitter

 

Meanwhile, a report said that Twitter may also see big layoffs in the coming days, as indicated by Elon Musk himself. Musk told the banks that he was going to take steps to improve the company's bottom line and that jobs would be cut under it.

 

Also Read: Will Musk buy Coca-Cola?: The world's richest man has an eye on these companies, but their deal will not be easy

1 Like 0 Dislike
Previous news Next news
Other news

India-China Clash: Rajnath Singh will visit Arunachal for the first time after a clash with China in Tawang, will inaugurate the bridge in Siang adjacent to LAC

For the first time after the clash with China in Tawang, Defense Minister Rajnath Singh is going

Counting of votes for the BMC elections has begun, but the results will be delayed this time; the reason has been revealed.

Vote counting began at 10 am in 29 municipal corporations across Maharashtra. However, the result

PM Modi: Not for the government, hard work has to be done to build the country... said, PM Modi

Prime Minister Narendra Modi addressed the Har Ghar Jal Utsav being held in Goa on Friday. He fir

Singapore Open: PV Sindhu reaches final of Singapore Open, defeats Japanese player in semi-final

Indian badminton star PV Sindhu has reached the final of the Singapore Open. She defeated Saina K

CSE report: This year was the second hottest pre-monsoon, in 20 years, heat took more than 20 thousand lives

This year the pre-monsoon months were the second warmest since 2010 in terms of recorded temperat

IND vs USA: Pakistan's hopes remain alive with the Indian team's victory over America, Suryakumar-Shivam's excellent partnership

After a brilliant performance by the bowlers led by fast bowler Arshdeep Singh, India qualified f

Salman Khan's data being sold on the dark web: Hacker stole data of 400 million users from Twitter, threatened Elon Musk

Data from about 400 million users have been hacked from Twitter's data store. A hacker has put th

Raja Saab New Release Date: Prabhas' horror comedy film Raja Saab's new release date is out, the teaser will come on this day

After the success of Kalki 2898 AD, Prabhas is away from the limelight, but there is a lot of dis

Gujarat Election: Kejriwal's new look shown in Somnath, folded hands-on political question

Delhi CM Arvind Kejriwal has started preparations for the Gujarat Assembly to be held this year.

IND vs BAN: Coach Gambhir's 3 words after India reached the Asia Cup final, the post is rapidly going viral

India defeated Bangladesh by 41 runs to advance to the final of the Asia Cup 2025. Bangladesh cap

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash