The Tesla, SpaceX, and Twitter CEO sold 22 million shares of his electric-vehicle company in three days, cutting his stake to 424 million shares.
The Tesla, SpaceX, and Twitter CEO sold around 22 million shares in three days.Elon Musk has cashed in another $3.6 billion of stock, as the billionaire technology executive faces mounting interest payments and the prospect of a painful recession.
The Tesla, SpaceX, and Twitter CEO sold about 22 million shares over the first three days of this week, at prices ranging from $155 to $177, arevealed Wednesday. The disposals reduced his Tesla stake to 424 million shares, or about 13.4% of the electric-vehicle company. Tesla's stock price skyrocketed during the pandemic to over $400 by November 2021, but has more than halved since then to around $157 as of Wednesday's close. Its market capitalization has dropped from $1.2 trillion at its peak to below $500 billion today.
The selloff partly reflects concerns about Musk's $44 billion takeover of Twitter, which some investors view as a
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