Elon Musk sells $3.95 billion of Tesla stock: Report

• Image Credit: Google

• Nov 9, 2022 | Dhupali Das

Musk, the world's richest person, stated in August that he was done selling Tesla stock...

Digital Desk: Tesla Inc. CEO Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his takeover of Twitter Inc.

According to regulatory filings in New York on Tuesday, Musk sold 19.5 million shares, his first sales since August. The filings made no mention of the transactions being planned ahead of time.

Musk, the world's richest person, stated in August that he was done selling Tesla stock. He informed a Twitter follower that it was critical to prevent an "emergency sale" of Tesla stock in the event that he was obliged to conclude the acquisition of the social media network and struggled to find additional equity partners.

However, others had predicted that the billionaire would increase his stock sales to support the deal. According to information gathered by Bloomberg, he has sold shares valued at approximately $36 billion over the course of the past year, about half of which have been sold since he announced his plan to buy Twitter.