This is How Much of Tesla Elon Musk Sold Off to Be Able to Buy Twitter

One of the biggest headlines in April has been Tesla CEO Elon Musk’s bid to takeover the helm of social media platform Twitter.

Musk had to come up with a pretty penny to be able to do this, as he is bidding to buy Twitter and take the social media company private for $54.20 per share, around $44 billion total. In order to do so, Musk secured $25.5 billion of fully committed debt, including $12.5 billion in loans against his Tesla stock.

The billionaire sold roughly $8.4 billion worth of Tesla shares this week according to filings with the Securities and Exchange Commission, as he moved towards buying the company. Shares of his electric vehicle company ended up falling 12% as a result on Tuesday. The bulk of his sales were made that day according to filings.

As the filings became public Thursday evening, Musk wrote on Twitter, “No further TSLA sales planned after today.”

New filings on Friday showed sales of an additional 5.2 million shares on Thursday. Shares of Tesla were up about 2.5% on Friday.

CNBC reached out to Tesla and Musk to ask exactly how he plans to use the proceeds, and whether he sold more Tesla shares after April 27, the latest date on the filings out Thursday.

Twitter accepted his offer earlier this week. The deal still requires shareholder and regulatory approval.

Musk would have to pay Twitter a termination fee of $1 billion if he fails to secure enough funding to complete his deal to buy the social media business, according to a regulatory filing.

Twitter would owe Musk a $1 billion break-up fee if it accepts a competing

offer, or if shareholders reject the deal, according to the same filing.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.