Elon Musk Sells Off Billions of Dollars More in Tesla Stock

Tesla CEO and prominent tweet guy Elon Musk has reportedly sold off another big chunk of his shares in the automaker in an effort to fund his buyout of Twitter. Musk unloaded 19.5 million Tesla shares to the tune of $3.95 billion in his latest transaction.

That brings the total dollar value of Tesla shares he’s offed to right around $36 billion in the past year. Bloomberg reports the latest sale came from regulatory filings in New York. However, it does not say if the sale was pre-planned. Half of that $36 billion selloff has come since Musk first went public with his intentions to buy Twitter.

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As is traditionally the case with Elon, he went back on an earlier assurance that he was done selling Tesla stock. Bloomberg says that in April, Musk alleged that no further transactions were in his future. He then reiterated that point again in August. He said it was important to avoid an “emergency sale” as the close of his Twitter acquisition neared.

Stocks of Tesla have reportedly fallen about 46 percent in the past year alone, and it has lost $600 billion in market capitalization since it peaked back in November of 2021. That decline in stock price has dragged his estimated fortune down to about $179.5 billion. That’s nothing to sneeze at, obviously, but it’s a far cry from the $340 billion he was worth at its height.