Tesla shares worth $3.99 billion are sold by Elon Musk

Elon Musk, the CEO of Tesla Inc., is said to have sold 4.4 million worth of shares for $3.99 billion. Bloomberg published the results using 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.

Musk stated shortly after the filings that “no further TSLA sales are planned after today.” According to the documents, Musk sold the shares, which amounted to 2.6 percent of his interest in the firm, on April 26 and April 27.

The report comes amid a global frenzy over Musk’s agreement to purchase Twitter Inc. for $44 billion in cash, a move that will give the world’s richest person control of the social media network frequented by millions of users and global leaders.

Tesla shares plunged 12% on April 26, to their highest level since September 2020, and have remained mostly unchanged in the two days since, closing Thursday at $877.51.

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