Musk is attending a Twitter all-hands meeting, people familiar with the matter said. He told employees that he recently sold Tesla stock to "save Twitter.”
Since Musk took over Twitter, he has laid off about half of its staff. Part of his purpose for holding the staff meeting is to motivate those who remain to work harder.
To fund the deal to take Twitter private, Musk last week sold at least $3.95 billion in Tesla stock. He sold another 19.5 million Tesla shares, according to SEC filings released on Tuesday.
He also sold more than $8 billion worth of Tesla stock in April and about $7 billion worth of Tesla stock in August.
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