After buying Twitter, Musk sold Tesla shares worth $4 billion

The world’s richest man Elon Musk has sold shares worth at least $3.95 billion in electric car maker Tesla just days after buying Twitter. Musk is the Chief Executive Officer of this company. He said in August that he would sell Tesla shares only if he was forced to buy Twitter.

In the regulatory filing made by the company told It is learned that Musk has sold approximately 1.95 crore shares. However, no information has been given whether there was a plan for this or not. According to Bloomberg report, Musk, who bought Twitter for about $44 billion, has taken a loan of about $13 billion from American banks for this. Apart from this, some high net worth investors have promised to invest about seven billion dollars in the company. However, it is not known whether these people have made this investment or not.

Since Musk took over Twitter, many big companies have stopped advertising on Twitter. An email sent to Musk regarding this matter did not receive any response. Automobile company Stellantis has informed about stopping all advertisements on Twitter. Stellantis says she’s looking forward to seeing how Twitter transforms the platform under its new owner.

Stellantis, formed by the merger of Fiat Chrysler and PSA, has said it is pausing ads until there is clarity regarding Twitter’s future under new leadership. Musk has said that since he gained control of Twitter, there has been a big decline in the company’s revenue. Earlier, General Motors, luxury car maker Audi of America and United Airlines had announced to stop advertising on Twitter. Volkswagen, one of the big automobile companies, had said last week that after Musk bought Twitter, it has asked its brands to stop advertising on this platform. Volkswagen Group owns popular brands like VW, Seat, Cupra, Audi, Lamborghini, Bentley, Ducati and Porsche. Earlier, other companies including General Motors had also made similar comments regarding Twitter.