Twitter’s new owner and Tesla CEO Elon Musk has sold nearly $4 billion worth of Tesla shares, according to regulatory filings.
Mr. Musk, who bought Twitter for $44 billion, sold 19.5 million shares of the electric car company from November 4 to November 8, according to Tuesday’s filings with the Securities and Exchange Commission.
He sold $7 billion of his Tesla stock in August as he worked to finance the Twitter purchase he was trying to get out of at the time.
In all, Mr. Musk has sold more than $19 billion worth of Tesla stock since April, including those in Tuesday’s filings, likely to fund his share of the Twitter purchase.
Most of Mr. Musk’s wealth is tied up in shares of Tesla Inc. On Tuesday, his personal net worth dropped below $200 billion, according to Forbes, but he is still the world’s richest person.