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Elon Musk sells nearly $4 billion of Tesla stock after Twitter deal

Tesla CEO Elon Musk has sold 19.5 million shares of his electric vehicle company for $3.9 billion (pre-tax) since taking over ownership of Twitter on Friday, November 4, according to filings with the Securities and Exchange Commission.  

Since announcing his $44 billion purchase deal of the social media platform this past April, Musk has sold $19.3 billion worth of Tesla shares. Musk now owns 445.6 million Tesla shares, excluding options, totaling nearly 14% of the company. His stake, including his exercisable options, hovers near 23%.  

Tesla’s stock dropped to its lowest price in a year on Tuesday, closing at a 52-week low of $191.30 per share. The sale contributed to Musk’s net worth approaching below $200 billion for the first time since May 24 and the second time since October 1, 2021. Prior to the sales, Forbes placed Musk as the wealthiest person in the world, with a worth of $197.4 billion.  

Forbes estimates that Musk had $13.3 billion in cash from the previous sales of Tesla shares and still needed an estimated $5.6 billion required to complete the remainder of the $44 billion purchase of Twitter.

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