In August, he sold another $6.9bn worth of Tesla shares and said the sale was conducted to pay for the acquisition of Twitter
Elon Musk's photo is seen through a Twitter logo in this illustration from October 28 2022. Picture: REUTERS/DADO RUVIC
Musk, whose net worth dropped below $200bn after investors dumped Tesla stock, unloaded 19.5-million shares between Friday and Tuesday, filings published by the US Securities and Exchange Commission showed. The purpose of the sale was not disclosed. The latest sale dump comes as analysts had widely expected Musk to sell additional Tesla shares to finance the Twitter deal.
Tesla has lost nearly half its market value and Musk’s net worth has slumped by $70bn since he bid for Twitter in April.Musk took over Twitter last in October and has engaged in drastic measures including sacking half the staff and a plan to charge for blue check verification marks.
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