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complete the purchase using 12.50 billion in loans against his Tesla shares in combination with his sales of Tesla stock.</p><p id="98dc">Twitter accepted the offer, but the deal still requires regulatory and shareholder approval.</p><p id="15b2">If Musk does not follow through with the deal he will be forced to pay a 1 billion termination fee.</p><p id="4b3a">If Twitter accepts a different offer it will have to pay a 1 billion breakup fee.</p><h1 id="af94">Before you go</h1><p id="7605">You can get all my stories sent directly to your inbox by <a href="https://medium.com/subscribe/@miketoneyhoffman">clicking here</a>!</p><p id="d79e">If you enjoy reading stories like these and want to support me as a writer, consider becoming <a href="https://medium.com/@miketoneyhoffman/membership">a Medium member</a>. The membership is 5 a month, giving you unlimited access to stories on Medium. If you <a href="https://medium.com/@miketoneyhoffman/membership">sign up using my link</a>, I’ll earn a small percentage.</p><div id="82bb" class="link-block"> <a href="https://medium.com/@miketoneyhoffman/membership"> <div> <div> <h2>Join Medium with my referral link — Mike Toney-Hoffman</h2> <div><h3>As a Medium member, a portion of your membership fee goes to writers you read, and you get full access to every story…</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*6GCEScAlWKx7nEqK)"></div> </div> </div> </a> </div><div id="9ac5" class="link-block"> <a href="https://medium.com/subscribe/@miketoneyhoffman">

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Stocks | Business | ILLUMINATION

Elon Musk Sells Over 9 Million Shares of Tesla Stock

Elon is preparing to buy Twitter.

Photo by Alexander Shatov on Unsplash

Elon’s Tesla sale

During the week of the 25th of April, Elon Musk sold over 9 million shares of Tesla. The first sale of shares occurred on Tuesday the 26th of April, causing Tesla stock to drop about 12%.

SEC filings were released on Wednesday, making these sales public. Elon later tweeted that there would be no more shares sold after Thursday.

Did Elon buy Twitter?

Musk offered to purchase Twitter at $54.20 per share for around $44 billion. Elon is a fan of memes, so he thought having 4.20 in the buyout price was comical.

Musk plans to complete the purchase using $12.50 billion in loans against his Tesla shares in combination with his sales of Tesla stock.

Twitter accepted the offer, but the deal still requires regulatory and shareholder approval.

If Musk does not follow through with the deal he will be forced to pay a $1 billion termination fee.

If Twitter accepts a different offer it will have to pay a $1 billion breakup fee.

Before you go

You can get all my stories sent directly to your inbox by clicking here!

If you enjoy reading stories like these and want to support me as a writer, consider becoming a Medium member. The membership is $5 a month, giving you unlimited access to stories on Medium. If you sign up using my link, I’ll earn a small percentage.

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