Elon Musk sells Rp57.7tn worth of Tesla shares; to fund Twitter acquisition?

19
elon musk
Tesla CEO Elon Musk (Source: Kompas)

Jakarta, IOTesla CEO Elon Musk sold 4.4 million shares of the electric vehicle maker for a whopping US$4 billion (Rp57.8 trillion).

According to reports to US Securities and Exchange Commission (SEC), the sale could help Elon Musk pay for his Twitter takeover.

He said he had no further plans to sell Tesla shares, reported CNBC Indonesia on Friday (29/4).

Shares of Tesla Inc fell Thursday (28/4) amid investors’ concerns that Elon Musk may have to sell Tesla shares again to fund his US$21 billion equity contribution in the acquisition of Twitter Inc. valued at US$44 billion (Rp635 trillion).

This deal effectively makes him one of Twitter’s largest shareholders. Under the terms, shareholders will receive US$54.20 in cash for each Twitter share they hold, consistent with Elon Musk’s original offering. It marked a 38% premium to the share price the day before Elon Musk reveals his stake in the company.