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Elon Musk Sheds Billions of Tesla Shares as Net Worth Drops

Photo Caption: On Aug. 9
<p><a href="https://www.cnbc.com/elon-musk/" _mce_href="https://www.cnbc.com/elon-musk/">Elon Musk</a>&nbsp;has sold at least another $3.95 billion<strong>&nbsp;</strong>worth of shares in his electric car company&nbsp;<a href="https://www.cnbc.com/quotes/TSLA/" _mce_href="https://www.cnbc.com/quotes/TSLA/">Tesla</a><button class="AddToWatchlistButton-watchlistButton"></button>&nbsp;after closing his $44 billion acquisition of Twitter.</p> <p>According to filings with the Securities and Exchange Commission published Tuesday,<strong>&nbsp;</strong>Musk sold 19.5 million more shares of Tesla.</p> <p>Musk sold almost $22 billion worth of&nbsp;Tesla&nbsp;shares in 2021, a year when the stock jumped over 50%. This year, he sold over $8 billion worth of&nbsp;stock in April and roughly $7 billion worth in August.</p> <p>In addition to pouring billions of his own capital into taking Twitter private, the Tesla CEO relied on partners, including equity investors Binance, Ron Baron’s BAMCO, Andreessen Horowitz, Twitter’s former CEO Jack Dorsey and Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia, to finance the deal, or to roll their existing shares into his holding company for Twitter.</p> <p>As NBC News previously reported, Sen. Chris Murphy (D-Conn) has called for an investigation into the&nbsp;<a href="https://www.nbcnews.com/politics/national-security" _mce_href="https://www.nbcnews.com/politics/national-security" target="_blank">national security</a>&nbsp;implications of Saudi Arabia’s stake in Twitter following Musk’s take-private deal.</p>
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