This is not the first operation of the genre that Tesla’s boss performs for his Twitter takeover since Elon Musk has already sold $ 15.5 billion in shares.
Le Monde with AFP
Elon Musk sold for nearly $ 4 billion in Tesla car manufacturer between Friday, November 4 and Tuesday, when he has to finance the buyout, a little over a week ago, Twitter for $ 44 billion.
The three operations concern a total of more than 19 million shares, or just over 4 % of the total number of securities owned by Mr. Musk, and 0.6 % of the total number of shares in circulation, according to Forms filed with the American Stock Exchange (Sec). Elon Musk had already sold for nearly $ 15.5 billion in shares.
These securities transfers must allow it to partially finance the acquisition of the microblogging platform, which is made in cash up to 27 billion dollars, then on a good part of the balance is financed by loans leaning against Twitter who will ensure the financial charge and the reimbursement.
The three sales phases were not without consequences on the course of action, which went into three sessions of 222.50 dollars in the opening on Friday at 191.30 dollars on Tuesday on Tuesday , a drop of 14 %. 2>
Elon Musk claims to remain invested with Tesla
On Twitter, several small tesla carriers were worried about these rehearsal titles sales and their consequences on the course of action, but also the too much attention paid by Elon Musk to Twitter to the detriment of the automotive group .
“I continue to do a lot of work for Tesla! I was at our Palo Alto engineering office until late at night on Thursday,” said Musk on his Twitter account. The billionaire took control of the social network on October 28, at the same time putting a premature term to what announced as a long legal battle with the group’s board of directors, after having announced to buy Twitter for 44 billion dollars then give it up.
From the finalization of operation Mr. Musk dismissed all the managers as well as 50 % of the group’s employees, and announced the launch of a totally refounded Twitter Blue subscription offer, which allows Obtain certification and various advantages for $ 8 per month.
The objective is to diversify its income while the platform depends at 90 % of advertising and loses, according to Elon Musk, $ 4 million per day. A financial situation which has worsened since its acquisition, after several big advertisers suspended their expenses on Twitter.
Critics have expressed themselves from all sides since the buyout of Twitter, including the UN which urged Elon Musk to enforce human rights on the social network.
Tuesday, MEPs expressed their concern, demanding the hearing of Mr. Musk by the European Parliament in order to “know more about his intentions” and remind him of his obligations.