According to a series of forms filed with the Securities and Exchange Commission, Musk has sold more than $3 billion in shares of the company. Musk has sold almost 20 billion of his shares in the company this year.
In April and August, Musk sold $8.4 billion in shares. He said after his sales in April that there wouldn't be any more. After the sales in August, he once again said that he was done selling, and that he was going to sell his shares if he had to buy the company.
The social networking site has been having trouble. The change in control has caused some advertisers to stop spending on the site. Sarah Personette left the day after Musk took over. Musk met with some advertisers himself, and the result was so bad that some executives shifted their spending away from the micro-blogging site. Advertisers are wary of doing business with Musk because of some of his comments and actions on social media. Advertising is the main source of revenue for the social networking site. It will have to pay $1 billion a year in interest on the debt it took out to purchase it.
It is possible for Musk to make sure his loans are paid himself. William Cohan thinks that Musk is going to pay the interest himself. To get cash, Musk has to sellTesla shares.
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