Canada Global (Web News) Tesla CEO Elon Musk sold $3.95 billion in Tesla shares just days after purchasing Twitter for $44 billion, according to US regulatory filings.
Data from the US Securities and Exchange Commission showed that between Friday and Tuesday, Musk sold 19.5 million shares of the electric vehicle manufacturer.
According to Reuters, the world’s wealthiest person now owns nearly 14% of Tesla, bringing his net worth below the $200 billion mark. The reason for the sale was kept hidden.
Musk is said to have sold more than $19 billion in Tesla stock since April, including the fillings, to pay for his share of the Twitter acquisition.
Musk claimed to have stopped selling Tesla stock in April, but he sold another $6.9 billion in shares in August.
Tesla has lost more than half of its market value since Musk made his bid for Twitter and his personal net worth has dropped by $70 billion.
