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Musk Sells Nearly $3.6 Billion In Tesla Stock—Moves Further Away From Richest Person
Siladitya RayForbes Staff
Updated Dec 15, 2022, 08:02am EST
Elon Musk sold nearly $3.6 billion worth of Tesla shares this week, according to Securities and Exchange Commission filings from this week, selling his stock while it trades at a notably reduced price and further eroding his former position as the richest person in the world.
Key Facts
According to the SEC filing, Musk sold around 22 million Tesla shares between Monday and Wednesday.
The filing doesn’t mention a reason behind the latest share sales, which is Musk’s second tranche of sales since taking over Twitter in late October.
This brings the total value of Tesla shares sold by Musk in the past 12 months to nearly $40 billion.
In the past, Musk has told Twitter staff he sold Tesla shares in order to “save” Twitter.
Tesla’s stock was down 1.34% in premarket trading early on Wednesday.
Big Number
60.79%. That’s the percentage by which Tesla’s stock value has slumped since the start of 2022.
https://www.forbes.com/sites/siladityaray/2022/12/15/musk-sells-nearly-36-billion-in-tesla-stock-moves-further-away-from-richest-person-title/