Musk sells $3.9bn Tesla shares after Twitter deal

Alade Abayomi ADeleke
Alade Abayomi ADeleke

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.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *