Tesla CEO Elon Musk sold about 4.4 million shares of the company on Tuesday, according to regulations released on Thursday.
Musk, through Aaron Beckman, his proxy, has filed a total of five Form 4s with the U.S. Securities and Exchange Commission to cover all 138 individual transactions.
According to TechCrunch’s calculations, the value of the sales in the disclosed files to date is about $4 billion.
The executive said in a tweet on Thursday, “No further TSLA sales planned after today”.
The filings do not reveal why Musk sold his shares, something he was used to doing. The money could potentially go toward his recent controversial plans to buy social media platform Twitter, but $4 billion seems to make little difference to the $44 billion the acquisition will cost.
However, if Musk pulls out of the deal, he’s on the hook for $1 billion, according to the deal’s termination fee with Twitter, so at least that amount would be covered by these sales.
No further TSLA sales planned after today
— Elon Musk (@elonmusk) April 29, 2022
This post Musk sells nearly $4 billion in Tesla stock – TechCrunch was original published at “https://techcrunch.com/2022/04/28/musk-sells-nearly-4-billion-worth-of-tesla-shares/”