Did Elon Musk Sell Off His Entire Tesla Stock?

WRITTEN BY NAVEENA PRASAD M

Musk selling shares from his tesla stocks is a very rare event. But in the past two months, the multi-billionaire has sold his Tesla stocks twice.

According to a US financial regulator filing, it shows that Elon Musk has sold shares worth about $3.5 billion which accounts for 22 million shares of Tesla. These stocks were sold over three days between December 12 to December 15.

Similarly, Elon Musk previously sold $19.5 million shares of Tesla in early November 2022. This was worth $3.95 billion.

The electric car makers have turned out to be one of the worst-performing stocks among major companies this year. According to Reuters, Tesla has sold over $40 billion over the past year.

The 51-year-old techie lost his world’s richest man status as he sells his Tesla shares worth billions.

The $23 billion worth of Tesla shares he sold since April 2022, has caused the electric car makers to lose half their value. However, Elon Musk remains to be the biggest shareholder with a 13.4% stake according to Refinitiv.

Musk now had his net worth falling to $174 billion during the early part of December 2022. The entrepreneur had a net worth of $286 billion in December 2021

But this year he has lost about $100 million. The massive revenue drop can be attributed to the Twitter takeover, advertisers stepping away from using Twitter, and the drop in Tesla’s share price.

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