Tesla stock sold by Elon Musk for $3.95 billion

By Pratik

 Nov 9,2022

According to regulatory filings, Tesla CEO Elon Musk and Twitter's new owner has sold almost $4 billion worth Tesla shares.

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According to Tuesday's filings to the Securities and Exchange Commission, Musk sold 19.5 Million shares of Twitter between Nov. 4 and Nov. 8.

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In August, he sold $7 billion of Tesla stock to help finance his Twitter purchase. Musk has sold Tesla stock worth more than $19 trillion since April. Tuesday's filings also show that Musk likely sold Tesla stock to finance his share of the Twitter purchase.

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Musk is the richest person in the world, with most of his wealth tied to shares in Tesla Inc.

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Musk had arranged for Morgan Stanley and other banks to finance the Twitter deal. According to Wedbush analyst Dan Ives, Musk's original share was $15.5 billion. Musk would have to replace equity investors or add more money if they leave.

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Tesla shares closed at $191.30, down 5.78 points or 2.9%. Since the beginning of this year, 52% has been lost in stock value. Comparatively, the S&P 500 Index has lost approximately 20% so far this year.

Image Source and Credit  : Google