Due to the purchase of Twitter, Elon Musk owns only 14% of Tesla

Billionaire Elon Musk sold $ 3.95 billion worth of Tesla shares immediately after signing a deal to buy Twitter for $ 44 billion. From now on, the eccentric businessman owns only 14% of Tesla. Musk’s representatives refused to disclose the official reason for the sale of shares, but it is believed to be a «sacrifice for the purchase of the social network.»

It is worth noting that the sale of 19.5 million shares of the electric car manufacturer took place at an average price of $ 202 per share. Tesla’s shares continue to fall, as in August the average price of one share was $ 290. In addition to the money from the sale of Tesla shares, Binance allocated $ 500 million to buy Twitter. «We're excited to help Elon realize Twitter’s new vision,» Binance founder Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao said in late October, «We're committed to playing a significant role in bringing social media and Web3 together to expand the use and adoption of crypto and blockchain technology.»

As for Twitter, the growth in the number of social media users has accelerated by more than 20% — all thanks to Elon Musk and the news surrounding the active changes on the platform that the billionaire introduces almost every day. However, the changes on Twitter are causing a flurry of criticism on social media and in the media. Employees of the social network are also dissatisfied with the actions of the new management, and have filed a class action lawsuit against Elon Musk. The lawsuit claims that Twitter’s new management violates federal and California laws by dismissing employees without proper notice.