As Twitter Struggles, Elon Musk Sells Another Big Chunk Of Tesla Stock, Raising $3.5 Billion
deadline.comTwitter’s new owner Elon Musk has unloaded another 22 million shares of his publicly-traded electric automaker Tesla, raising north of $3.5 billion.
The move follows a sale in November of 19.5 million shares of Tesla and that company’s stockholders are growing increasingly restless and vocal about the founder and CEO’s commitment and highly public distractions with his latest venture.
In April, when Musk also divested a big chunk of Tesla ahead of his $44-billion Twitter takeover, he promised there would be no more selling of Tesla stock but sold another tranche in November.
Musk divested his latest batch of shares on Monday, Tuesday and Wednesday this week, according to tan SEC filing. They were sold in multiple transactions at an average price per transaction ranging from about $156 to over $176 per share.
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