Tesla CEO Elon Musk has sold $3.95bn worth of Tesla shares, according to US regulatory filings, days after he bought Twitter for $44bn.
Musk sold 19.5 million shares of the electric car company between Friday and Tuesday, US Securities and Exchange Commission data showed on Tuesday.
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The latest sale drops the world’s richest person’s net worth below $200bn, leaving him with a stake of roughly 14 percent in Tesla, according to a calculation by Reuters news agency. The purpose of the sale was not disclosed.
Musk said in April that he was done selling Tesla stock but sold another $6.9bn worth of shares in August.
Tesla has lost nearly half its market value and Musk’s net worth slumped by $70bn ever since he bid for Twitter in April.
On November 1, Musk fired Twitter’s board of directors, giving himself unfettered control over the social media giant, according to a company filing.
A self-described “free-speech absolutist”, he tried to walk away from the deal in May, alleging Twitter understated the number of bot and spam accounts on the platform. This led to a series of lawsuits between the two parties.