The official website of the US Securities Regulatory Commission showed that Tesla CEO Elon Musk disclosed in the regulatory documents submitted on November 4th, 7th, and 8th, a total of three consecutive trading days, selling at least 19.5 million Tesla shares, valued at $3.95 billion.
Join us on Telegram
According to statistics from Forbes magazine, Musk’s current net worth is $194.8 billion, a large part of which comes from his nearly 15% Tesla stake.
Since Musk announced his bid for Twitter in April, Tesla’s market value has evaporated by nearly half, and his own net worth has shrunk by $70 billion, dropping below $200 billion.
Tesla’s No. 5 spot in the S&P 500 has just been replaced by veteran economic giant Berkshire Hathaway as its market capitalization evaporates. At Tuesday’s close, Tesla had a market value of $604 billion.
Before that, Musk had sold at least $15 billion worth of stock. Last month, he completed a $44 billion acquisition of Twitter with a $13 billion loan and a $33.5 billion mortgage in Tesla shares.