“Elon Musk has sold Tesla shares worth $3.58 billion in the last three days, filings with the US Securities and Exchange Commission show”
Billionaire Elon Musk, who recently lost the mantle of the world’s richest person, has sold Tesla shares worth $3.58 billion in the last three days.
Though how the billionaire wants to utilize the proceeds remains unclear, a filing posted on Wednesday night with the US Securities and Exchange Commission shows that the Tesla CEO — and new owner of Twitter — sold the shares from December 12 through December 14.Musk sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to fund his $44 billion acquisition of Twitter, according to reports.
He sold another 9,34,091 shares of the electric vehicle maker worth $963.2 million earlier in December. According to financial research firm Verity Data’s data, cited by CNBC, Musk has sold 94,202,321 shares so far this year at an average price of $243.46 per share for pre-tax proceeds of approximately $22.93 billion. This, even as Musk told his millions of followers on social media that he had “no further TESLA sales planned” after April 28.
“Musk’s prior sales going back to November 2021 were expertly timed, so Tesla shareholders need to pay attention to Musk’s actions and not his words – or lack thereof when it comes to his recent selling.” After Musk’s Twitter takeover, he told employees there that he sold Tesla shares to “save” their business.