American billionaire Elon Musk has sold shares in… Tesla, the electric car makerAbout 4 billion dollars, according to a disclosure to the US Stock Exchange, on Tuesday, more than a week after it acquired Twitter in a deal worth 44 billion dollars.
And the documents of the US Securities and Exchange Commission showed that Elon Musk, who financed through the sale of shares in “Tesla”, a large part of the “Twitter” deal, as he sold 19.5 million of the company’s shares at about 3.95 billion dollars.
Before the sale, Elon Musk’s net worth fell below $200 billion, on Tuesday, as investors dumped Tesla shares over fears that the CEO For the most expensive electric car manufacturers And its largest contributor is more interested in Twitter.
Forbes magazine said Musk’s fortune now stands at $194.8 billion, a large part of which comes from his roughly 15 percent stake in Tesla, which has a market value of $622 billion.
Tesla car (iStock)
The company has lost nearly half of its market value, and Musk’s net worth has fallen by $70 billion since he made an offer to buy Twitter in April.
Investors initially fled Tesla over fears that Musk would sell its shares, and Musk sold $15 billion worth of shares in the company.
Last month, Musk completed a $44 billion purchase of Twitter, $13 billion of which was financed through loans, and $33.5 billion in financing pledges.
Wall Street now fears that Musk has drained his resources as the electric vehicle maker ramps up production and faces increased competition.
“It looks like Elon Musk is devoting 100 percent of his time to Twitter, and as you know you may need more capital,” said Jay Hetfield of Infrastructure Capital Management.
Since buying Twitter, Musk hasn’t tweeted much about Tesla, something that 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 world’s richest person, who also owns the “SpaceX” missile company, is about $40 billion more than the wealth of the second richest person in the world, Bernard Arnault, owner of LVMH.
Tesla stock fell 2 percent to $193.7 in Tuesday afternoon trading, down for the third consecutive session.