Elon Musk Sold More Than $3.5 Billion Worth of Tesla Shares

 

 

According to the Associated Press, Elon Musk said on Wednesday that he has sold $3.58 billion worth of Tesla stock this week.

 

According to a filing that was made public by the U.S. Securities and Exchange Commission, the Tesla CEO sold the shares between Monday and Wednesday. Although it’s unclear what precipitated the transaction, this brings the total amount of Tesla stock he’s sold this year to close to $23 billion. From its high last year, the electric vehicle company’s stock has decreased by more than 60%. Given that he appears to be more than a little preoccupied with sketching out his intentions for the social media company, it is possible that his recent selling of Tesla stock has anything to do with his $44 billion acquisition of Twitter.

 

Investors in Tesla have, unsurprisingly, expressed frustration over Musk’s growing disengagement from the business. One of the largest Tesla investors, Leo KoGuan, attacked Musk in a tweet sent on Wednesday. “Elon abandoned Tesla and Tesla has no working CEO,” Leo wrote. “Tesla needs and deserves to have working full time CEO.”