Elon Musk sold around $4 billion worth of Tesla shares as he moved to buy Twitter
NBCSep 09, 2022
Elon Musk Sells $8.5B Tesla Shares Days After Twitter Deal
Image copyright: The Associated Press [via The Independent]
The Facts
Tesla CEO Elon Musk has sold $8.5B worth of stock in the electric car company over the past few days, according to a filing with the Securities and Exchange Commission on Thursday.
The move comes just days after Musk reached a deal to purchase Twitter for $44B, fueling speculation that the sale will help finance his purchase of the social media company. He has committed $21B of his own money to the purchase.
The Spin
Narrative A
Good for Musk. He's an extremely successful, innovative businessman who has transformed the automotive industry, reimagined the potential of space travel and is now tackling social media. Why shouldn't he use some of his personal financial success with Tesla, by selling a small part of his stake in the company, to facilitate his next projects?
Narrative B
Musk's takeover of Twitter is a serious cause for concern. He has a history of spreading misinformation and locking out people he disagrees with. Just because Musk runs a successful car company and has the ability to sell off billions in shares doesn't mean he's equipped to take on major social issues like freedom of expression and democracy on one of the most influential platforms in the world.