American billionaire Elon Musk sold shares of … Tesla, the electric car manufacturerAbout $ 4 billion, according to a revelation on the US stock exchange on Tuesday, more than a week after the acquisition of Twitter in a $ 44 billion deal.
And US Securities and Exchange Commission documents showed that Elon Musk, who financed through the sale of “Tesla” shares, a large part of the “Twitter” deal, sold 19.5 million shares of the company to about 3 million. , 95 billion dollars.
Read more: Tesla’s shares drop 5% and the company’s market value loses $ 32 billion
Prior to the sale, Elon Musk’s net worth fell below $ 200 billion on Tuesday as investors dumped Tesla’s stock amid fears that the CEO. For the more expensive electric car manufacturers And its biggest contributor is more interested in Twitter.
Forbes magazine said Musk’s fortune is now $ 194.8 billion, much of which comes from his roughly 15% stake in Tesla, which has a market value of $ 622 billion.
Tesla Cars (iStock)
The company has lost nearly half of its market value, and Musk’s net worth has fallen by $ 70 billion since it made an offer to buy Twitter in April.
Investors initially fled Tesla on fears that Musk would sell his stock and Musk sold $ 15 billion worth of shares in the company.
Last month, Musk completed a $ 44 billion Twitter purchase, including $ 13 billion in loans and $ 33.5 billion in financial commitments.
Read more: Celebrities who have replaced their names with Elon Musk to “mock him”. He banned their accounts
Wall Street now fears Musk has drained its resources as the electric vehicle maker ramps up production and faces more competition.
“It appears that Elon Musk is dedicating 100% of his time to Twitter and, as you know, more capital may be needed,” said Jay Hetfield of Infrastructure Capital Management.
Since buying Twitter, Musk hasn’t tweeted much about Tesla, which has helped him succeed on the short-tweeting platform. Instead, he used Twitter to advertise the social media company’s plans, such as signing up for a blue tick for $ 8 a month.
The wealth of the richest person in the world, who also owns the “SpaceX” rocket company, is about $ 40 billion more than the wealth of the second richest person in the world, Bernard Arnault, owner of LVMH.
Tesla shares fell 2% to $ 193.7 in trading on Tuesday afternoon, down for a third consecutive session.
