The Tesla CEO, and new owner of Twitter,
sold the shares from Monday through Wednesday, according to a filing posted
Wednesday night by the US Securities and Exchange Commission.
Musk has sold nearly $23 billion worth of
Tesla stock since April, with much of the money likely going to help fund his
$44 billion acquisition of Twitter.
The sale comes as shares of the electric
vehicle and solar panel maker have collapsed, losing over half their value
since Musk first disclosed in April that he was buying up Twitter stock.
The falling shares have bumped Musk from
his status as the world's wealthiest person, with his net worth falling to $174
billion, according to Forbes. He was passed last week by French fashion and
cosmetics magnate Bernard Arnault.
The sale comes as shares of the electric
vehicle and solar panel maker have collapsed, losing over half their value
since Musk first disclosed in April that he was buying up Twitter stock.
The falling shares have bumped Musk from
his status as the world's wealthiest person, with his net worth falling to $174
billion, according to Forbes. He was passed last week by French fashion and
cosmetics magnate Bernard Arnault.
Wedbush analyst Dan Ives said Musk is now a
villain in the eyes of Tesla investors. He said Tesla's fundamentals remain
healthy but his behavior with Twitter is hurting the company's brand. “The
Twitter overhang is a nightmare that is growing with no one but Musk to blame,”
Ives wrote in an email.
A message was left with Tesla Wednesday
night seeking comment on the stock sale.
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