Shock and disbelief. Musk broke another promise. He sold Tesla shares for $4 billion

At the end of October, after several months of legal wrangling and other perturbations, Elon Musk completed the acquisition of Twitter for the amount of USD 44 billion. Of course, the richest man in the world did not put money from a private treasury on this transaction (in fact, he supposedly does not have one at all). Most of the amount comes from loans and other financial instruments.

There are many indications that the billionaire is now looking for money to pay off his financial obligations. According to the content of documents that were sent to the Securities and Exchange Commission on Tuesday, after finalizing the acquisition of Twitter, Musk sold 19.5 million shares of Tesla Motors worth $3.9 billion.

Recall that Musk is the founder and president of the automotive concern, although his activity in recent weeks could indicate that the only business he currently deals with is Twitter.

Musk broke his word. Once again

At the end of last year, a billionaire from South Africa sold Tesla stock for $20 billion. On the other hand, in April businessman grabbed another from the market $8.5 billion – this time to raise funds for the purchase of the Twitter social network.

Shortly after this second sale, Musk tweeted an entry in which he assured that he had no plans to dispose of the shares further. “After today, no further sale of TSLA is planned” – he wrote.

This promise was broken by the controversial billionaire in August. Then he sold another block of shares worth nearly $7 billion. Musk then explained that this was a kind of protection in case he was forced to take over Twitter.

In the (hopefully unlikely) event that Twitter does the deal *and* some equity partners back out of the purchase, it’s important to avoid a sudden sale of Tesla stock

– he explained his move in a published post on Twitter.

As we know today, this “unlikely” scenario did come true, and Musk eventually took over Twitter to avoid a gigantic penalty for withdrawing from the transaction.

broke his word and got rid of more Tesla shares. He has not yet clarified what the purpose of this latest transaction was, but it is almost certain that it is again about Twitter.

Tesla photo Tesla

Tesla investors are watching Musk’s next moves with increasing concern. Anyway, a glance at the stock exchange is enough. This year alone, the shares of the automotive concern have lost over 50 percent. its value. They are currently valued at $191.3, while at their peak – in October 2021 – they were worth over $410