Factbox: Tesla's Musk raised billions ahead of Twitter bid
April 14, 2022
Elon Musk wants to buy Twitter for $43 billion in cash, and the $16.4 billion he netted from sales of Tesla shares last year could help.
"Musk could look to fund the transaction, if approved, through a combination of debt financing and potentially Tesla shares," CFRA Research analyst Angelo Zino said.
"Given the size of the transaction, we think it is conceivable that some Tesla shares could be sold given much of his wealth is tied to the company."
Here's a look at the string of transactions Musk made as he offloaded about 10% of his stake in the electric car maker to meet tax withholding obligations related to the exercise of stock options.
DATE | SHARES ACQUIRED | SHARES SOLD | GROSS PROCEEDS |
November 8 | 2.2 mln | ||
November 8 | 934,091 | $1.10 bln | |
November 9 | 3.1 mln | $3.35 bln | |
November 10 | 500,000 | $527.3 mln | |
November 11 | 639,737 | $687.3 mln | |
November 12 | 1.2 mln | $1.24 bln | |
November 15 | 2.1 mln | ||
November 15 | 934,091 | $930.7 mln | |
November 16 | 2.1 mln | ||
November 16 | 934,091 | $973.4 mln | |
November 23 | 2.2 mln | ||
934,091 | $1.05 bln | ||
December 2 | 2.1 mln | ||
934,091 | $1.01 bln | ||
December 9 | 2.2 mln | ||
934,091 | $963.2 mln | ||
December 13 | 2.1 mln | ||
934,091 | $906.5 mln | ||
December 16 | 2.2 mln | ||
934,091 | $884.1 mln | ||
December 21 | 2.09 mln | ||
934,091 | $853.7 mln | ||
December 22 | 2.11 mln | 934,091 | $928.6 mln |
December 28 | 1.6 Mln | 934,090 | $1.02 bln |
Total | 22.9 mln | 15.7 mln | $16.4 bln |
Wells Fargo analyst Colin Langan warned of the possibility of more share sales to come.
"There is a risk if he (Musk) decides to sell more Tesla shares to fund the takeover which could put pressure on the stock."
