Topline

As he appears to be like to finance his huge acquisition of social media firm Twitter, Elon Musk bought one other 5.2 million shares of Tesla for roughly $4.5 billion, bringing his whole share gross sales this week to almost 10 million, in keeping with new filings with the Securities and Trade Fee launched on Friday.

Musk offloaded one other 5.2 million Tesla shares on Thursday.

Illustration by Forbes, Photograph by Martin Schoeller

Key Info

Musk bought 5.2 million shares of Tesla inventory on Thursday, at costs ranging between about $823 and $903 per share, in keeping with new regulatory filings.

Tesla’s billionaire CEO walked away with $4.5 billion in proceeds from the latest share sale, which is able to quantity to roughly $3.5 billion after taxes.

The newest batch of promoting comes proper after Musk offloaded 4.4 million Tesla shares on Tuesday and Wednesday, for about $4 billion, in keeping with filings.

Tesla’s billionaire CEO has now bought roughly 9.6 million shares of his electrical automobile this week alone, for pretax proceeds of round $8.5 billion, days after he agreed to purchase social media platform Twitter.

Musk is trying to rustle up funds for his deliberate acquisition of Twitter, after the corporate’s board of administrators authorised his $44 billion takeover bid on Monday.

Musk, who’s the world’s richest particular person, nonetheless owns 163 million shares of Tesla, shares of which jumped almost 5% on the information Friday.

Essential Quote

Musk tweeted on Thursday night: “No additional TSLA gross sales deliberate after at this time.”

Huge Quantity: $260.5 Billion

That’s how a lot Musk is value after the newest share gross sales, Forbes calculates. Nearly all of his fortune comes from his stakes in Tesla and rocket maker SpaceX.

Shocking Truth:

Musk now has $8.2 billion of money, up from $1.7 billion earlier than the batch of Tesla inventory gross sales this week (after accounting for taxes), in keeping with Forbes’ estimates. That quantities to nearly half of the $21 billion in fairness commitments he pledged as a part of the deal to purchase Twitter.