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Elon Musk tells Twitter employees he offered Tesla inventory to save lots of the social community

Muhammed Selim Korkutata | Anadolu Company | Getty Photos

’s new proprietor , who can also be CEO of electrical car maker Tesla and U.S. protection contractor SpaceX, informed staff of the on Thursday that he lately offered shares of Tesla to “save Twitter.”

He made the remarks throughout an all-hands assembly that he hosted partially to inspire Twitter staff who stay after sweeping layoffs to work arduous. Musk let go of about half of Twitter staff following his acquisition of the corporate for $44 billion, or $54.20 per share.

As Amazoonkartbeforehand reported, to finance his portion of that take-private deal, final week Musk offered a minimum of one other $3.95 billion value of Tesla inventory. In line with filings with the Securities and Fee printed Tuesday, the batch of shares he simply offered amounted to 19.5 million extra shares of Tesla.

Earlier this yr, he additionally offered over $8 billion value of Tesla inventory in April and roughly $7 billion value in August.

Musk has introduced in staff from Tesla, together with dozens of Autopilot engineers, to assist with code assessment and different work at Twitter together with associates, monetary backers and deputies from different corporations that he has co-founded.

Amongst different issues, Musk desires Twitter to generate half of its income from Twitter Blue subscribers, and to develop into much less reliant on promoting income.

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