Abhoy Sarkar's Avatar
published in Blogs
Dec 15, 2022
Elon Musk sells another $3.6 billion of Tesla (TSLA, $157.69) shares

Elon Musk sells another $3.6 billion of Tesla (TSLA, $157.69) shares

Tesla CEO Elon Musk sold another 22 million shares of the company this week, Securities and Exchange Commission filings indicated Thursday. Raising around $3.6 billion, the latest sale brings Musk’s year-to-date sale total to around $40 billion. Musk currently owns a 13.4% stake in Tesla, down from around 17% a year ago.

Musk had sold 7.92 million shares between August 5 and August 9, which raised around $6.9 billion (following Tesla shares’ +47% gain from late May to August 5). He sold another $8.5 billion in April. In totality, Musk has sold nearly $23 billion worth of Tesla stock since April. A substantial portion of the money is likely going to help fund his $44 billion acquisition of social media company Twitter.

Related Tickers: TSLA