Elon Musk Sells More Tesla Shares And Has New Plans For Twitter
Musk said he is selling his shares to focus on the deal with the social media platform.
Tesla CEO, Elon Musk, sold additional shares of his electric car company after closing a $44 billion purchase of Twitter.
After closing the deal, Musk sold at least $3.95 billion worth of his Tesla shares.
On Tuesday, he sold 19.5 million more shares of Tesla. Before he sold those shares he owned nearly 25% of the company between stock and options.
Musk said he is selling his shares to focus on the deal with the social media platform. His leadership in Twitter so far is responsible for massive terminations and investment pauses as some advertisers question the policy changes.
Musk is considering putting Twitter behind a paywall. It is unclear how serious the paywall plans may be but if the motion is carried out users would have to purchase the blue verification checkmark for $8.
Some employees say the economics behind the Twitter Blue subscription could lose money in the long run.