Elon Musk sells $3.58B worth of Tesla shares
In the past year, Musk has sold $40 billion worth of Tesla shares following his announcement that he was buying Twitter
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Elon Musk has sold more of his Tesla shares.
The Tesla chief executive sold 22 million shares worth $3.58 billion in the electric-vehicle maker, according to a regulatory filing.
The sales took place between Monday and Wednesday this week.
Musk has sold over $40 billion worth of shares in the past year, surrounded around his acquisition of Twitter.
ELON MUSK SOLD ALMOST $4B OF TESLA SHARES IN TWITTER TAKEOVER
Elon Musk, Tesla CEO. ((Photo by Yasin Ozturk/Anadolu Agency via Getty Images / Getty Images)
The Tesla CEO went on a selling spree in April as he was lining up financing for his $44 billion purchase of Twitter, which he had attempted to retreat from since July.
Tesla's CEO sold another 7.92 million shares in August, months after announcing he wasn't going to sell any more shares.
Musk ultimately completed the Twitter purchase in October.
ELON MUSK SELLS NEARLY $7B IN TESLA SHARES AS TWITTER LEGAL BATTLE RAGES ON
Tesla logos displayed at showroom. (AP Photo/David Zalubowski / AP Newsroom)
In the days following the takeover, the billionaire sold almost $4 billion in Tesla stock.
Tesla's shares fell nearly 3% today and is roughly downr 60% year-to-date.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 161.48 | -9.57 | -5.59% |
It was reported this week that Musk no longer has title of the world’s richest person.
Tesla CEO Elon Musk and the company's car plant in Fremont, California. ( Andrew Harrer/Bloomberg via Getty Images / Getty Images)
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On Forbes’ real-time billionaires list, Musk currently holds the No. 2 spot behind Bernard Arnault, the CEO of French luxury giant LVMH.
Reuters contributed to this report.