Elon Musk sells Tesla shares worth nearly $4 billion; his net worth goes below $200 billion
Elon Musk sells more Tesla shares. Photo: Getty Images
Elon Musk, the eccentric mega-billionaire is either shaping a genius business and social media platform, or he's an idiot busy lighting fire to everything with his name on it.
Today, Musk is not as actively tweeting at light speed as he was yesterday. His tweets, mostly replies, are also limited to single emojis or one word. And there's a reason why. There's always a reason.
Why? New filings with the Securities and Exchange Commission on Tuesday showed that Elon Musk has sold nearly $4 billion in his Tesla shares.
- All in all, Musk has dumped nearly $20 billion in Tesla shares this year alone.
#UPDATE Tesla chief Elon Musk sells nearly $4 billion worth of shares in the electric car company, SEC filings show, more than a week after he closed his $44 billion acquisition of Twitter.
— AFP News Agency (@AFP) November 9, 2022
Musk financed much of his Twitter purchase with Tesla stock pic.twitter.com/G8N8ax7z4s
The impact: Of course, no action is without consequence.
- Tesla's share price is down 52% so far this year.
- Reportedly several more investors have dumped their Tesla shares concerned over Elon Musk's fixation with Twitter.
- Elon Musk's net worth has also fallen below $200 billion in the latest.
The sudden realization many people are having that Elon probably runs Tesla like he is running twitter. pic.twitter.com/bKc3DVY8z9
— Erin Reed (@ErinInTheMorn) November 7, 2022
What's worth a word: Elon Musk likes to promise and declare a lot of things he's going to do or plans to do. But most of the things are just tweets and only tweets.
- Musk had said in April that he won't sell any more Tesla stock after dumping $8.5 billion in shares to buy Twitter. But of course that's not what his actions did.
No further TSLA sales planned after today
— Elon Musk (@elonmusk) April 29, 2022
- In August, Musk sold over $6.9 billion in Tesla shares and now he sold $3.95 billion worth of shares.
- In case you don't know, Elon Musk's main wealth comes from Tesla and SpaceX, mostly Tesla.
What's going on at Twitter? Well, Elon Musk is still scrambling to make Twitter make money. With advertisers pulling out, US midterm elections, the heartless and damaging layoffs, and confusing policies, the Twitter bird seems more like a headless chicken.
What's he tweeting about? Take a look:
Tribal is awesome & I totally don’t own it (yet)
— Elon Musk (@elonmusk) November 9, 2022
Twitter is the worst!
— Elon Musk (@elonmusk) November 8, 2022
But also the best.
Important thread
— Elon Musk (@elonmusk) November 8, 2022
Wow, this is messed up!
— Elon Musk (@elonmusk) November 8, 2022
🤣
— Elon Musk (@elonmusk) November 8, 2022
Good point
— Elon Musk (@elonmusk) November 8, 2022
This is Elon mostly surrounded or choosing to reply to only his 'Yes men'. And this is also Elon when not surrounded by 'Yes men'.
Elon Musk cannot handle being properly schooled. A tragedy in three acts: pic.twitter.com/MXSWQPWo2b
— Randi Mayem Singer had a blue check before 11-7-22 (@rmayemsinger) November 4, 2022