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Elon Musk sold Tesla shares to buy Twitter, know the full story of raising funds

The world’s richest person, Elon Musk, recently made the social media site Twitter his name. However, Elon Musk had to sell his Tesla shares to acquire Twitter. Musk had information about this to the Securities and Exchange Commission on Thursday. The Tesla CEO also admitted that he has no intention of selling any more shares of the company. He sold most of the shares when the company’s shares had lost 12 percent on Tuesday.

Elon Musk’s move has caused many people to fear that Musk will now spend more time on Twitter by shifting his focus from the electric car company. Let us tell you that Twitter on Monday agreed to the acquisition of 44 billion by Musk. Musk expects to borrow up to ₹25.5 billion from a group of banks to pay for the Twitter acquisition. But this share sale will reduce some of it. Sk has signed an agreement to acquire Twitter for approximately $44 billion.

The deal to buy Twitter at 54.20 per share was announced earlier this week, which could be finalized sometime this year. But shareholders will have to go through intense scrutiny and scrutiny before the deal is completed. Similarly, the US and the countries where Twitter does business will have regulators. However, there are still some obstacles to be expected. Objections are being raised from some Twitter employees and those users. Who has expressed concern over Elon Musk’s speech-free stance. There is an apprehension that harassment and use of hate speech may increase on the platform (Twitter). Tesla shares closed slightly lower on Thursday at 87,877.51, its biggest drop of the year, or 17 percent.

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Bikram Singh Sidhu

Advocate Bikram Singh Sidhu is a Senior Journalist at Youthistaan.com who covers latest trending, politics, business, technology news and updates.
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