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9 Nov, 2022

Musk sells $3.95 billion of Tesla stock


Regulatory filings show Musk sold nearly $4 billion worth of Tesla shares, bringing his total sold since April to $19 billion. He sold $7 billion in August.  These three most recent blocks of Tesla stock sales represent only 4% of the shares that Musk owns outright through a trust, and less than 3% of his holdings if options that he has to buy additional shares are included.

Musk’s filings did not disclose the reason for those earlier stock sales. But after someone on Twitter asked him if he was done selling Tesla shares, he responded “Yes” and then pointed to the possibility of being forced to buy Twitter as the reason for those sales. Shares of Tesla are down almost 50% this year.