Elon Musk Sells $4 Billion in Tesla Stock – Austin American -Statesman | CarTailz

Austin-based Tesla CEO Elon Musk sold nearly $4 billion worth of Tesla stock, according to regulatory filings.

Musk, who recently bought Twitter for $44 billion, sold 19.5 million shares of the Austin-based electric car company Nov. 4-8.

Musk sold $7 billion of his Tesla stock in August while working to fund the Twitter buyout, which he’s walking out of at the time. In all, Musk has sold more than $19 billion worth of Tesla stock since April, including those filed Tuesday, which will likely fund his part of the Twitter purchase.

The takeover of Twitter has not been smooth and the social media platform has seen the exodus of some big advertisers including United Airlines, General Motors, REI, General Mills and Audi in recent weeks. Musk acknowledged “a massive drop in revenue” on Twitter, which relies heavily on advertising to make money.

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