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Elon Musk sells 22m shares worth $3.58bn of Tesla

Reuters/Beck Diefenbach
SpaceX CEO Elon Musk said the company is close to having 100 Starlinks in Iran.

Tesla Inc chief executive officer Elon Musk has sold 22 million shares worth $3.58 billion in the electric-vehicle maker this week, a US securities filing showed on Wednesday.

The latest sale, Musk’s second since his $44 billion purchase of Twitter in October, brings the total Tesla stocks sold by the billionaire to nearly $40 billion over the past year.

He now owns 13.4 percent of the world’s most valuable carmaker, according to Refinitiv data.

Investor concerns that Musk’s purchase of Twitter could divert his time away from Tesla have driven down shares of the company more than 60 percent in 2022, making it one of the worst-performing stocks among major automakers and tech firms this year.

The stock hit its lowest in over two years last night.

Musk, who recently lost his title as the world’s richest person, unloaded shares over three days between Monday and Wednesday, according to the filing.

Tesla did not immediately respond to a Reuters request for comment outside business hours.

The latest share sale comes a month after Musk sold shares worth $4 billion in Tesla days after he closed the Twitter deal.