Elon Musk sold $3.95 billion of Tesla shares after Twitter takeover

Elon Musk sold $3.95 billion of Tesla shares after Twitter takeover

Elon Musk sold about $3.95 billion worth of Tesla shares to close his $44 billion takeover of Twitter.

Musk sold 19.5 million more shares of Tesla, according to filings with the Securities and Exchange Commission published Tuesday.

In 2021, Musk sold almost $22 billion worth of Tesla shares, resulting in the stock jumping over 50%.

This year in April, he sold over $8 billion worth of Tesla stock and another $7 billion in August.

Musk also took help from partners Binance, BAMCO and Andreessen Horowitz to finance the Twitter deal.

Since taking over, Musk has pulled several Tesla engineers to Twitter to assist him with code review and other work.

Tesla shares are down 46% this year, wiping out a big chunk of Musk’s fortune.

However, he continues to be the world’s richest person with a net worth of close to $200 billion.