November 9, 2022, 9:39 AM
November 9, 2022, 9:39 AM
The owner of Tesla, Elon Musk, sold nearly $4 billion worth of stock of the electric vehicle company, according to documents from the United States Securities and Exchange Commission (SEC) released on Tuesday, more than a week after you bought Twitter for 44,000 million.
Securities regulator documents show that Musk, who financed much of his Twitter purchase with Tesla stock, sold 19.5 million shares for a value of about 3,950 million dollars.
Following the sale of those Tesla shares, Musk still owns about 455 million shares of the manufacturer of luxury electric cars.
From November 1 to 7, during Musk’s first full week at the helm of Twitter, Tesla shares lost 16% of their value: Shares of the automaker fell another 2.93% today and were trading at $191.3 at the close of markets.
Musk sold his shares at prices between $203.6 and $219.9, according to SEC filings.
Analysts had anticipated that Musk would be forced to sell part of his shares in Tesla to finance the operation of Twitter, which according to the businessman himself, is losing 4 million dollars a day.
Almost all of Musk’s vast fortune, which was above $200 billion until the Tesla acquisition, is invested in the automaker’s stock.
