Elon Musk Sells $3.6 Billion in Tesla Stock

On Monday, Tuesday, and Wednesday of this week, Elon Musk sold over 22 million shares of Tesla stock for a whopping $3.6 billion. According to CNN, Musk did not “disclose the reason for the sales in the filing.”

It has been reported that this is some of Musk’s first sales of Tesla stock since “early November,” when he sold shares after closing on his Twitter deal. Before purchasing Twitter, it was rare for Musk to sell shares of Tesla. CNN reported that typically when he sold shares, it was because he needed to use the sales to “pay taxes he owed on the exercise of options.” As many shares in Tesla have been sold, shares in the company have been consistently decreasing, being down “55% so far this year alone.” Musk will most likely continue selling.