Elon Musk Has Sold $4 Billion In Tesla Stock After Twitter’s Acquisition

Elon Musk, the world’s richest person with a net worth of more than $200 billion, sold about $4 billion in Tesla stock despite earlier saying that he was done doing so.

On August 9, Musk used Twitter – which he now controls thanks to a $44 billion acquisition – to inform his followers and admirers that he will stop selling business shares to fund his goal to acquire the social media network.

In 2021, the tech billionaire sold $22 billion in Tesla shares, while this year, in April and August, the new Twitter CEO liquidated shares worth $8 billion and $7 billion, respectively.

Meanwhile, according to his petition with the U.S. According to the Securities and Exchange Commission, Elon Musk reportedly sold another 19.5 million Tesla shares for $3.95 billion on Tuesday.

Following this occurrence, at the time of writing, after peaking at $194.90 per unit, the price of the electric vehicle company’s shares was $191.30, a 2.93% loss.

Elon Musk Remains Silent on Crypto Plans

Following this move, some are asking if SpaceX CEO Elon Musk would soon sell his crypto assets, given that he has previously done so.

Musk’s Tesla sold 75% of its Bitcoin holdings in July of this year, which startled many people who assumed the entrepreneur was serious about keeping his crypto balance in his portfolio.

However, as of now, Elon Musk has remained silent on his opinions on cryptocurrencies, without even mentioning his favorite asset, Dogecoin.

Furthermore, there are unsubstantiated rumors that Twitter has ceased all crypto-related initiatives. When this piece was written, the social media business had not reacted to inquiries regarding the situation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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