Elon Musk sells $8.5bn shares in Tesla in move to buy Twitter for $44bn       

Tesla CEO tells bankers, that agreed to help fund his acquisition of Twitter, that he would crack down on executive and board pay at the social media company.

Tesla CEO Elon Musk old about 5.23 million shares in the electric vehicle maker, to finance the $44bn purchase of Twitter. 

In the three days after Elon Musk engineered a deal to buy Twitter, he sold roughly $8.5bn worth of shares in Tesla to help fund the purchase.

Mr Musk reported the sale of 9.6m shares in filings with the Securities and Exchange Commission on Thursday and Friday. The trades were made at prices ranging from $822.68 to $999.13 a share.