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Elon Musk sells Tesla shares worth around $4 billion

About 4.4 million shares were offloaded on Tuesday and Wednesday, filings with the Securities and Exchange Commission revealed.

April 29, 2022 / 08:19 AM IST
Elon Musk

Elon Musk

Tesla boss Elon Musk has sold shares worth around $4 billion in total in the electric car maker, going by filings with the regulator.

About 4.4 million shares were offloaded on Tuesday and Wednesday, the filings with the Securities and Exchange Commission revealed.

Tesla CEO said no further sales have been planned.  "No further TSLA sales planned after today," Musk said in a tweet.

This comes as reports say Musk's initial nine percent stake purchase in Twitter is being probed by the Federal Trade Commission (FTC).

Also Read: Elon Musk’s $21 billion mystery: Where will he get cash for Twitter?

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Analysts suspected that Musk may need to sell some part of his holding in Twitter, to cover the $21 billion equity portion of the deal that he has personally guaranteed.

Elon Musk and Twitter Inc. reached an agreement on April 25 for the world’s richest man to buy the social networking platform for $44 billion.

Musk has a real-time net worth of $252 billion, according to the Bloomberg Billionaires Index. However, he has just about $3 billion in cash and somewhat liquid assets, according to Bloomberg estimates.

Musk owns about 17% of Tesla, the world's most valuable carmaker.  He owns around 54% of SpaceX through a trust.



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Moneycontrol News
first published: Apr 29, 2022 07:33 am
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