Investors sold off their shares of Tesla Inc (TSLA.O), the world’s most valuable maker of electric vehicles, on the assumption that Elon Musk, the company’s chief executive and major shareholder, was more focused with Twitter, causing his net worth to fall below $200 billion.
Forbes estimates that Musk’s current net worth is $194.8 billion, with a significant portion of that coming from his approximately 15% ownership in Tesla, which has a market value of $622 billion.
Days after finalising the $44 billion acquisition of Twitter Inc., regulatory documents revealed that Musk sold $3.95 billion worth of shares in the manufacturer of electric vehicles.According to a calculation by Reuters, the most recent sale increases Musk’s total stock sales since November of last year to around $36 billion, leaving him with a 14% ownership in the most expensive automaker in the world.
Between Friday and Tuesday, Musk sold 19.5 million shares, according to documents made public by the U.S. Securities and Exchange Commission.
