Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter.
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The world's richest man, who is the CEO of Tesla, tweeted that he doesn't plan any further sales of the company's shares. He still owns just over 168 million shares in the electric carmaker, via a trust, Agence France-Presse points out.Analysts said Tesla investors fear Musk will be distracted by Twitter and less engaged in running the electric car company. TwitterIt appeared that Musk would borrow up to $25.
Twitter's stock closed at $49.11 on Wall Street Thursday, AFP notes, adding that,"The market often interprets the difference between the offer price and the value of a stock as the risk premium, the measure of risk represented by the acquisition."
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