By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Elon Musk sells nearly $4bn in Tesla stock –  SEC filing
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessTech

Elon Musk sells nearly $4bn in Tesla stock –  SEC filing

Agency Report with Okay.ng
By Agency Report with Okay.ng
Published: November 9, 2022
Share
3 Min Read
Elon Musk
Elon Musk
SHARE

Tesla chief Elon Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings showed Tuesday, more than a week after he closed his $44 billion acquisition of Twitter.

Musk has been pushing for ways to pay for the massive deal, for which he took on billions of dollars in debt and earlier sold $15.5 billion worth of shares in Tesla.

On Tuesday, documents filed with the US Securities and Exchange Commission (SEC) indicated that he had disposed of more than another 19 million shares, worth in excess of $3.9 billion.

Musk took control of Twitter and fired its top executives in late October, after a drawn-out back-and-forth between the world’s richest person and the influential social media company.

- Advertisement -

The billionaire initially tried to step back from the deal after his unsolicited offer was accepted in April.

He said in July that he was canceling the contract because he had been misled by Twitter over the number of fake “bot” accounts, allegations rejected by the company.

After Musk sought to terminate the sale, Twitter filed a lawsuit to hold the entrepreneur to the agreement. With a trial looming, he revived his takeover plan.

Overhaul 

- Advertisement -

On Friday, Twitter sacked half of its 7,500-strong staff as its new owner launched an overhaul of the company.

Jack Dorsey, who co-founded Twitter in 2006 and stepped down as CEO last year, tweeted to apologize for growing the site too quickly, following news of the firings.

Musk has been searching for ways for the social media platform to make money after the buyout, including an idea to charge users $8 a month for verified accounts.

The move would help overcome a potential loss of advertisers, Twitter’s main source of revenue, after many top brands put their ad buys on hold, uneasy about Musk’s well-known disdain for content controls.

Musk’s actions and statements since taking over the reins of Twitter have prompted concern, including warnings from the United Nations.

UN rights chief Volker Turk has urged Musk to make respect for human rights a priority for the social network.

Musk has insisted that content moderation remains a priority for Twitter and that he would create a council dedicated to the task.

Musk’s decision to pull Twitter off the stock market has allowed him to make major changes quickly, but it also took the company more heavily into debt, a risky choice for a money-losing business.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Elon MuskTesla
SOURCES:AFP
VIA:Okay.ng
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article Senegalese forward, Sadio Mané ruled out of 2022 World cup
Next Article Twitter introduces ‘official’ label to differentiate subscribed verification

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,540.00
Sell₦1,560.00
GBP
Buy₦2,148.00
Sell₦2,180.00
EUR
Buy₦1,740.00
Sell₦1,800.00

Updated: 14 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

JAMB Registrar, Is-haq Oloyede
Nationwide Fingerprint Fraud Scandal Uncovered in JAMB CBT Centres, Imo and Anambra Lead
Education News
Senator Natasha Akpoti-Uduaghan
Senator Natasha Akpoti-Uduaghan Explains Delay in Senate Return Amid Legal Nuances
News
ADC Asserts Neutrality Amidst Political Realignments, Denies Bias in Presidential Race
Politics Top stories
Nigeria Union of Teachers
FCT Teachers to Resume as NUT Suspends Over Three-Month Strike
Education
Boladale Odunlami, Commercial Manager, Nestlé Nigeria; Olabisi Joseph, President, Nigeria School Sports Federation (NSSF); and Ifeanyichukwu Orabuche, Category Manager, Beverages, Nestlé Nigeria, pose with the triumphant Father O’Connell Science College team after they clinched the male championship title at the 25th MILO Basketball Championship held at the Indoor Sports Hall, National Stadium, Lagos.
25 Years of Impact as Nestlé’s MILO Basketball Championship Shapes Nigeria’s Future Champions
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Education

New Admission Benchmarks Set to Standardise Tertiary Entry Across Nigeria

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 8, 2025
Dangote Refinery
Energy & Oil

Dangote Refinery Cuts Petrol Price Again to ₦820 Per Litre, Expands Distribution Network

Muhammad A. Aliyu
Muhammad A. Aliyu
July 8, 2025
David Mark
Politics

2027: ADC Has No Preferred Presidential Aspirant – David Mark

Muhammad A. Aliyu
Muhammad A. Aliyu
July 8, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?