News

Musk sells $3.9bn Tesla shares after Twitter deal

Tesla boss and new Twitter CEO, Elon Musk, has sold another 19.5 million shares of the electric car maker worth $3.95bn.

 

This is coming less than two weeks after the world’s richest man completed his $44bn takeover of Twitter.

 

BBC reported that Tesla’s share price has fallen by more than 50% since the start of this year.

 

While the reason for the latest share sale is yet unknown, the total amount of Tesla shares sold by Musk sums up to almost $20bn since he announced earlier this year that he had bought a stake in Twitter.

 

In April 2022, Musk sold $8.5bn of Tesla stock and another $7bn worth of stock in August.

 

Meanwhile, in August, Tesla shareholders approved a three-for-one stock split, which is behind part of the fall in the value of the shares.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button