Musk cuts Tesla shares for three consecutive trading days

The official website of the US Securities Regulatory Commission showed that Tesla CEO Elon Musk disclosed in the regulatory documents submitted on November 4th, 7th, and 8th, a total of three consecutive trading days, selling ​​at least 19.5 million Tesla shares, valued at $3.95 billion.

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According to statistics from Forbes magazine, Musk’s current net worth is $194.8 billion, a large part of which comes from his nearly 15% Tesla stake.

Since Musk announced his bid for Twitter in April, Tesla’s market value has evaporated by nearly half, and his own net worth has shrunk by $70 billion, dropping below $200 billion.

Tesla’s No. 5 spot in the S&P 500 has just been replaced by veteran economic giant Berkshire Hathaway as its market capitalization evaporates. At Tuesday’s close, Tesla had a market value of $604 billion.

Before that, Musk had sold at least $15 billion worth of stock. Last month, he completed a $44 billion acquisition of Twitter with a $13 billion loan and a $33.5 billion mortgage in Tesla shares.

(via)