Elon Musk sells 4.4 million Tesla shares worth $3.99 billion

Elon Musk has said there are “no further TSLA sales planned after today”.

Updated on: Apr 29, 2022, 09:01:19 IST

By HT News Desk | Edited by Sohini Goswami

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Elon Musk, the CEO of electric vehicle maker Tesla Inc, has reportedly sold 4.4 million of its shares worth $3.99 billion. The findings were reported by Bloomberg, citing Form 4 filings.

“Form 4 has been split into five filings to cover all 138 individual transactions that occurred on two consecutive transaction dates,” it said.

Shortly after the filings, Musk said there are “no further TSLA sales planned after today”. Musk offloaded the shares, equating to 2.6 per cent of his stake in the company, on April 26 and April 27, according to the filings.

Also read | Elon Musk, Twitter's new owner, must have tweets on Tesla pre-approved

The report comes amid a global frenzy over Musk clinching a deal to buy Twitter Inc for $44 billion cash, a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.

Tesla shares fell 12 per cent on April 26, the highest since September 2020, and have changed little in the following two sessions, with the stock closing Thursday at $877.51. Another $12.5 billion of Musk’s deal for Twitter is secured by his Tesla stake.

(With inputs from agencies)

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