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According to newly revealed regulatory filings on Friday, Elon Musk has successfully sold off a staggering $8.5 billion worth of Tesla shares in recent days, Your Content has learned.
Speculations arise that this move might be connected to his ambitious plan of acquiring Twitter for a whopping $44 billion.
The filings indicate that Musk divested himself of $8.5 billion in Tesla stock throughout the course of this week.
It is widely believed that this substantial cash infusion is intended to support Musk’s part in the forthcoming Tesla takeover, which amounts to approximately $21 billion.
The remaining funds required for the acquisition will be procured through a combination of diverse loans.
Despite these large-scale transactions, Musk still finds himself in need of an estimated $10 billion in liquid capital after factoring in taxes and prior stock sales.
The origin of this additional funding remains shrouded in mystery; however, reports suggest that Musk is actively seeking potential partners to meet this financial requirement.
In a separate development, Musk has conveyed his intentions to reduce executive salaries at Twitter to lenders.
This strategic move indicates his dedication to streamlining the social media giant’s operations should the takeover bid prove successful.
In a bid to entice Musk further, a Texas rancher has even offered to donate 100 acres of land if he chooses to relocate Twitter’s headquarters to the Lone Star State, according to The Daily Mail.