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Elon Musk sells a small part of Tesla to buy Twitter

The CEO of the automobile firm Tesla, Elon Musk, has sold company shares worth more than 4,000 million dollars (3,776 million euros at current exchange rates), according to documents from the United States Securities and Exchange Commission ( SEQ).

Specifically, the richest man in the world has sold 4,415,000 shares of the more than 168.2 million titles he owned. Thus, Musk would have sold almost 2.68% of his stake in the company and more than 10% in the last six months.

As confirmed by Musk himself through his Twitter account, it is not in his plans to continue selling shares of the electric vehicle firm. “No further sales of TSLA are anticipated after today,” the tweet reads.

Tesla rises up to 3.25% in pre-market trading on Friday with a price of $906 per share (855.66 euros) compared to Thursday’s close of $881.51 (832.53 euros ) on the New York Stock Exchange.

These operations occur after last Monday the Twitter Board of Directors finally accepted the initial purchase offer of the company presented by Musk for a total of 43,394 million dollars (40,979 million euros).

In November of last year, Musk already sold almost 10% of his stake in the company after conducting a survey on the social network he just acquired. In it, the followers of Elon Musk voted in favor of the sale of that 10% of his participation, valued at about 21,000 million dollars (19,831 million euros).

Thus, by the end of the year, the manager got rid of 8% of his stake in the company, by selling more than 13.46 million shares out of the total of 170.5 million titles he owned then (around 17% of the company’s capital), for a total amount of 14,100 million dollars (13,316 million euros).

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