Elon Musk has sold almost 22 million of his shares at Tesla for $3.58 billion.
The transactions happened between Dec. 12 and Dec. 14., and it the fourth time this year that Musk has sold his shares at Tesla.
Musk tried for months to get out of the Twitter buyout deal but failed. To raise enough cash for the purchase, he offloaded more than $15 billion in Tesla shares — about $8.5 billion in April, then another $6.9 billion in August. In November, after vowing he was done selling, he unloaded another $3.95 billion of his stake.
Musk used significant amounts of borrowed money that now sits on Twitter’s balance sheet to help finance the acquisition. Twitter’s debt load has jumped to about $13 billion, up from $1.7 billion pre-deal, along with other types of bonds that could be converted into stock.
Musk’s recent sales shrink his stake in the company to roughly 13%, according to Bloomberg data. Musk, who has been Tesla’s CEO since 2008, is still the largest shareholder.
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