According to the Securities and Exchange Commission, Musk sold more than four million shares of the electric car company earlier this week for $4 billion.
Musk is near Berlin, Germany.
The sales took place on Tuesday and Wednesday at prices between $872 and $999 per share.
Musk has more than 168 million shares of the company.
After the sales were disclosed, Musk said there would be no more TSLA sales.
$246.2 billion. Forbes estimates Musk's net worth. Most of his wealth is attributed to his stakes in two companies.
The board of directors of the social media company agreed Monday to sell the company to Musk, ending a dramatic period that began with Musk buying up 9.2% of the company and later making an offer to purchase the entire company. The deal will require Musk to come up with some cash in order to get the deal done.
The shares of the company fell more than 12% this week. Some analysts think that the share prices are sliding because of Musk's commitment to buying Twitter, which could distract him and force him to sell part of his stake in the company.
All Rights Reserved © 2024
