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.

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