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Elon Musk tells Twitter workers he offered Tesla inventory to save lots of Twitter

Muhammed Selim Korkutata | Anadolu Company | Getty Pictures

Twitter’s new proprietor Elon Musk, who can be CEO of electrical automobile maker Tesla and U.S. protection contractor SpaceX, instructed workers of the social media enterprise on Thursday that he lately offered shares of Tesla to “save Twitter.”

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

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

Earlier this 12 months, he additionally offered over $8 billion price of Tesla inventory in April and roughly $7 billion price in August.

Musk has brought in employees from Tesla, together with dozens of Autopilot engineers, to assist with code evaluation and different work at Twitter together with associates, monetary backers and deputies from different firms that he has co-founded.

Amongst different issues, Musk wants Twitter to generate half of its revenue from Twitter Blue subscribers, and to grow to be much less reliant on promoting income.

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