Elon Musk sells 22 million Tesla shares
(MNP) – Tesla Chief Executive Officer Elon Musk has sold 22 million shares worth $3.58 billion in the electric-vehicle maker this week, a U.S. securities filing showed on Wednesday.
The latest sale, Musk s second since his $44 billion purchase of Twitter in October, brings the total Tesla stocks sold by the billionaire to nearly $40 billion over the past year.
He now owns 13.4% of the world s most valuable carmaker, according to Refinitiv data.
Investor concerns that Musk s purchase of Twitter could divert his time away from Tesla have driven down shares of the company more than 60% in 2022, making it one of the worst-performing stocks among major automakers and tech firms this year.
The stock hit its lowest in over two years last night.
Musk, who recently lost his title as the world s richest person, unloaded shares over three days between Monday and Wednesday, according to the filing.
Tesla did not immediately respond to a Reuters request for comment outside business hours.
The latest share sale comes a month after Musk sold shares worth $4 billion in Tesla days after he closed the Twitter deal.
