THE GUARDIAN: Fears that carmaker’s CEO may have to sell shares to fund $44bn acquisition of social network
Investors have wiped $126bn (£100bn) off Tesla’s value amid concern that Elon Musk may have to sell shares in the electric carmaker to fund his personal contribution to his $44bn acquisition of Twitter.
Tesla stock has been targeted despite the company not being involved in the bid but Musk, its chief executive and largest shareholder, is part-funding the Twitter deal with $21bn of his own equity and a further $12.5bn loan secured against his Tesla stake.
The 12.2% drop in Tesla’s shares on Tuesday equated to a $21bn drop in the value of his Tesla stake, equal to the cash stake he committed to the Twitter deal. » | Guardian staff and agency | Wednesday, April 27, 2022
