Elon Musk, Tesla’s CEO, attends the opening of the Tesla Factory Berlin Brandenburg on March 22, 2022 in Gruenheide, Germany.
Elon Musk has sold 4.4 million shares of Tesla stock for nearly $4 billion, which is most likely to help Twitter his purchase.
Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. Shares were sold at prices ranging from $872.02 to $999.13 over the past few days.
The world’s richest man, who is the CEO of Tesla, tweeted that he has no plans to sell any further shares of the company.
Most of the selling happened on Tuesday, a day when Tesla shares closed down 12%, a major one-day drop.
Analysts said Tesla investors fear Musk will be distracted by Twitter and less engaged in running the electric car company. Twitter on Monday agreed to be acquired by Musk for $44 billion.
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