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Elon Musk sells $8.5bn-worth of Tesla shares after Twitter deal

Carmaker’s shares fell this week over concerns CEO would offload stock to help fund takeover of platform

Elon Musk has sold $8.5bn (£6.8bn) worth of shares in Tesla as the world’s richest man raises cash after reaching a deal to buy Twitter.

The Tesla chief executive has committed $21bn of his own money to the funding package for acquiring the social media platform, which he agreed to buy for $44bn on Monday. Since then Musk has sold 9.6m Tesla shares, or about 5.6% of his stake in the business, according to filings with the US financial regulator.

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