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Elon Musk Sells Tesla Shares Worth $3.58 Billion

Reuters2022-12-15

Dec 14 (Reuters) - Tesla Inc Chief Executive Officer Elon Musk has sold 22 million shares worth $3.58 billion in the electric-vehicle maker this week, a U.S. securities filing showed on Wednesday.

The latest sale, Musk's second since his $44 billion purchase of Twitter in October, brings the total Tesla stocks sold by the billionaire to nearly $40 billion over the past year.

He now owns 13.4% of the world's most valuable carmaker, according to Refinitiv data.

Investor concerns that Musk's purchase of Twitter could divert his time away from Tesla have driven down shares of the company more than 60% in 2022, making it one of the worst-performing stocks among major automakers and tech firms this year.

The stock hit its lowest in over two years last night.

Musk, who recently lost his title as the world's richest person, unloaded shares over three days between Monday and Wednesday, according to the filing.

Tesla did not immediately respond to a Reuters request for comment outside business hours.

The latest share sale comes a month after Musk sold shares worth $4 billion in Tesla days after he closed the Twitter deal.

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Comment48

  • Lukas.Song
    ·2022-12-16
    Hmm..
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  • Guardian_J
    ·2022-12-16
    Woo
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    • Vincentan59
      [Facepalm][Facepalm][Facepalm]
      2022-12-16
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  • ArcticFox88
    ·2022-12-16
    Like
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  • ExiledKitty
    ·2022-12-15
    His collaterised debts using Tesla shares is going to get margin call soon. This is going to drive the price to the ground when it happens (and is happening if price continue to fall). Good luck to those who are naive. Dont love the stock, love the money only. 
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  • soosoo
    ·2022-12-15
    [Miser] 
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  • hphoa
    ·2022-12-15
    🍌
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  • hphoa
    ·2022-12-15
    Fucking hell
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  • 玖舞贰栖
    ·2022-12-15
    Shame on him. He said he would not sell.
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  • Darrenneoyo
    ·2022-12-15
    Yup
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  • andy1967
    ·2022-12-15
    Ok thanks for sharing. Not looking good for Tesla. 
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  • kkennn
    ·2022-12-15
    Okk
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  • TW1
    ·2022-12-15
    Like
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  • naf
    ·2022-12-15
    Sad
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  • Sathis
    ·2022-12-15
    Only going to get worse when the china madeelectric cars come out: they are better and cheaper
    Reply
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    • MorganHope
      More Chinese EV brand will lead to global EV sector.
      2022-12-15
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    • LeonaClemens
      Better and cheaper EV car will be the future.
      2022-12-15
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  • Bulltrader
    ·2022-12-15
    I hv keep telling you all. Elon keep selling to support twitter. 
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    • Bulltrader
      2023 usd80. i will buy usd80. if not, i look for other apple also go buy.
      2023-01-23
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    • Bulltrader
      85. buy below 100. i will collect some.
      2023-01-08
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    • Bulltrader
      it depend on recession and credit crunch. car loan will impact tsla. recession reduce buy new car. tsla start cutting px to overcome drop in sales
      2023-01-08
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    View more 2 comments
  • KYHBKO
    ·2022-12-15
    It is likely to fund his other investments including Twitter. The market may receive the news negatively but there is no change in the fundamentals of the business. Price does not always represent the value of the business.  $Tesla Motors(TSLA)$  View on Tesla Motors(TSLA) Bullish Bearish
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    • boonchong
      too bad there's no thumbs down 👎
      2022-12-15
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  • Joyus
    ·2022-12-15
    👍
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    • kkennn
      Ok
      2022-12-15
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  • All in Tesla
    ·2022-12-15
    Elon giving us his shares.. in my opinion its a steal at this price. Buy and hold I'm sure it will 5X in the next 5yrs. 😉
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    • boonchong
      BS... u making huge losses. who r u to comment. ray dalio or Micheal burry??!!
      2022-12-15
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  • Longshot
    ·2022-12-15
    Ok
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    • stardice
      Ok
      2022-12-15
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  • Agxm
    ·2022-12-15
    Huat ah
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    • Longshot
      Ok
      2022-12-15
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