Elon Musk told Twitter staff he sold Tesla shares to save Twitter

Twitter’s new owner Elon Musk, who is also the CEO of an electric car maker Tesla and U.S. defense contractor SpaceX told employees at its social media business on Thursday that it recently sold a stake in Tesla to “save Twitter.”

He spoke out at an all-hands conference he hosted to motivate remaining Twitter employees to work harder after layoffs were swept away. US dollars) and sold about half of Twitter’s employees after buying the company.

As CNBC previously reported, Musk sold at least another $3.95 billion last week to fund part of that take-private deal. deserve Tesla stock. According to a Securities and Exchange Commission filing issued Tuesday, The batch of shares he just sold is worth 19.5 million Tesla shares.

Earlier this year, it sold more than $8 billion worth of Tesla stock in April and about $7 billion in August.

the mask is I brought in an employee from Teslaincludes dozens of Autopilot engineers who work with friends, funders, and representatives from other companies he co-founded to help with code reviews and other work on Twitter. doing.

Among other things, Musk wants Twitter to generate half of its revenue from Twitter Blue subscribersless reliance on advertising revenue.

Musk’s Twitter distraction has upset some of Tesla’s most die-hard bulls. for example, CNBC Pro reported, Wedbush Securities removed Tesla from its list of top stocks. The company called Musk’s Twitter deal a “train wreck disaster,” saying the celebrity CEO had “hurt” Tesla’s story and created a “cycle of anguish” for shareholders to navigate.