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Elon Musk Sells Tesla Shares Worth $3.5 Billion

Elon Musk Sells Tesla Shares Worth $3.5 Billion, EFE

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Businessman Elon Musk sold almost 22 million shares of Tesla for a value of more than $3.5 billion this week, according to documents made public Wednesday and collected by The Wall newspaper. StreetJournal.

It’s the second time Musk has dumped a significant number of shares in his company since he bought Twitter in late October for $44 billion.

In November it was revealed that Musk, founder of technology company SpaceX, had sold 19.5 million shares of Tesla for a value of $ 3.9 billion.

These sales by the CEO of the electric vehicle company have had a negative effect on the share price, which has fallen more than 50 percent in 2022.

Some analysts predicted Musk would be forced to sell part of his Tesla shares to finance the operation of Twitter, which according to the businessman himself is losing $ 4 million a day.

Almost all of Musk’s immense fortune, which until the acquisition of the social network was over $ 200 billion, is invested in the shares of the automaker.