Tesla Chief Executive Officer and Twitter’s new owner Elon Musk has sold 19.5 million Tesla shares worth about $4 billion, US securities filings showed on Tuesday.
The exact worth of the shares is $3.95 billion.
Billionaire entrepreneur and Twitter's new owner Elon Musk sells 19.5 million Tesla shares, a SEC filing shows pic.twitter.com/9yu4COWFjw
— Reuters (@Reuters) November 9, 2022
With this latest sale, the total value of Tesla stocks sold by Musk is about $20 billion. Earlier, after selling a combined $15.4 billion worth of Tesla shares in April and August, Elon Musk had said that there were no further sales planned.
Musk took over Twitter last month and has engaged in drastic measures, including sacking half the staff and a plan to charge for blue check verification marks.
The $44 billion acquisition began on April 4 when Musk announced that he had a 9.2 percent stake in the company, making him the largest shareholder. He said that he planned to clean up spam accounts and his lawyers then accused Twitter of not complying with his requests for information on the subject.