Elon Musk sells $4 billion in Tesla stock
Elon Musk – the world’s richest person with a net worth of over $200 billion – sold nearly $4 billion worth of Tesla shares after previously announcing that he was already done with it.
It can be recalled that on August 9, Musk used Twitter – which he now owns thanks to a $44 billion purchase – to tell his followers and fans that he will stop selling the company’s shares to finance his plan to buy the social the media platform.
In 2021, the tech billionaire sold $22 billion of his Tesla shares, while this year, in April and August, the new Twitter boss liquidated shares that amounted to 8 billion dollars and $7 billion, respectively.
Meanwhile, according to his filing with the US Securities and Exchange Commission, which was published on Tuesday, Elon Musk will reportedly sold an additional 19.5 million of its Tesla shares which was worth $3.95 billion.
Following this development, at the time of writing, after reaching a high of $194.90 per unit, the electric vehicle company’s share price was $191.30 after experiencing a fall of 2.93%.
Many worries about the billionaire’s new company
The self-proclaimed “Dogefather” continues to make headlines following the completion of the deal that made him the new CEO of Twitter.
US President Joe Biden has just accused Elon Musk of spreading lies on a very large scale following his purchase of the social media platform.
In what could be described as retaliation from Musk, he used Twitter on the eve of the midterm elections to appeal to independent voters to vote Republican as the presidency is already a Democrat.
Also US Senator Chris Murphy proposed investigations must be directed at the national security implications of Saudi Arabia having a stake in the massive Twitter purchase made by Musk.
Prince Alwaleed bin Talal bin Abdulaziz of the Kingdom of Saudi Arabia is one of Elon Musk’s partners who helped him complete the deal.
Elon Musk remains silent on crypto plans
After this decision, some are wondering if the CEO of SpaceX will soon sell his crypto holdings considering that he has done so before.
Back in July this year, Musk’s Tesla sold 75% of its Bitcoin holdings – a decision that surprised many people as they thought the billionaire was serious about keeping his crypto balance in his portfolio.
But for now, Elon Musk remains mum about his thoughts on cryptocurrencies, and he hasn’t even mentioned the asset he’s most fond of – Dogecoin.
Additionally, there are unconfirmed reports that Twitter has halted all of its crypto-related projects. The social media company has not responded to inquiries about the matter by the time this story was written.
DOGE total market cap at $11.3 billion on the daily chart | Featured image from The Economic Times, Chart: TradingView.com
