Elon Musk, CEO of Tesla, sold roughly $4 billion worth of company stock on Tuesday, according to Securities and Exchange Commission filings.
This comes after he completed his $44 billion acquisition of Twitter more than a week ago.
Musk has been pressing for ways to pay for the significant transaction, for which he incurred enormous debt and earlier sold shares of Tesla worth $15.5 billion.
On Tuesday, documents filed with the United States SEC indicated that he had disposed of more than 19 million shares, in excess of $3.9 billion.
Musk took control of Twitter and fired its top executives in late October after a drawn-out back-and-forth between the world’s richest person and the influential social media company.
Elon Musk To Sell 10% Of His Tesla Shares, See Why
The billionaire initially tried to withdraw from the deal after his unsolicited offer was accepted in April.
In July, he said he was canceling the contract because Twitter had misled him over the number of fake “bot” accounts, allegations rejected by the company.
After Musk sought to terminate the sale, Twitter filed a lawsuit to hold the entrepreneur to the agreement. With a trial looming, he revived his takeover plan.
AFP
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