Elon Musk, the CEO of Tesla and the new owner of Twitter, has reportedly sold about $4 billion worth of Tesla shares.
According to Tuesday’s filings with the Securities and Exchange Commission, Musk, who paid $44 billion to purchase Twitter, sold 19.5 million shares of the electric car company between November 4 and November 8.
As he worked to pay for the Twitter purchase he was trying to get out of at the time, I sold $7 billion worth of his Tesla stock.
Overall, Musk has sold shares of Tesla worth more than $ 19 billion since April, including those in Tuesday’s Philings, likely to pay for his share of the Twitter acquisition.
The majority of Musk’s wealth is held in Tesla Inc. stock. According to Forbes, His personal net worth fell below $ 200 billion on Tuesday, but He Is Still The Richest Man In The World.
MORGAN STANLEY WAS ONE OF THE BANKS MUSK HAD SCHEDULED TO HELP FINANCE THE TWITTER DEAL. His initial portion of the bargain was around $15.
5 billion, according to Wedbush Analyst Dan Iives. However, Musk would be responsible for finding replacement equity investors or using more of His Own Money.
Tesla’s stock price fell $5. 78, or 2.9%, to close at $191.30. Since the beginning of the year, the stock has lost 52% of its value. The S&P 500 Index, in contrast, has lost about 20% of its value so far this year.
Tesla stock valued at $3.95 billion is sold by Elon Musk
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