Elon Musk sells $3.6B worth shares in Tesla
chief Elon Musk has sold another 22 million shares, worth around $3.6 billion, in his electric vehicle business, according to the US Securities and Exchange Commission financial filing. The transaction occurred between December 12 and 15.
According to Reuters, the total number of Tesla stock sales over the last year has reached nearly $40 billion.
On November 9, Elon Musk sold 19.5 million shares of Tesla Inc., worth $3.95 billion, days after completing the $44 billion takeover of Twitter Inc. The stock sales happened over the days of August 5, 8, and 9, with a weighted average share price of $869.09. At the time, he had said that there were "no further TSLA sales planned after today."
The latest share transaction comes a month after Musk sold shares worth $4 billion in the days after he closed the Twitter deal. The takeover closed in late October.
The shares of Tesla, the world's most-valuable carmaker, are one of the worst-performing stocks among major automakers and tech companies this year and have gone down even further since Musk took on his new responsibility.
In October, the electric vehicle automaker company said it is grappling with lingering logistics challenges. It is expected to miss this year’s vehicle delivery target.
Edited by Megha Reddy