Elon Musk sells $4 billion worth of Tesla shares following Twitter's acquisition, bringing his total wealth to $200 billion.

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Elon Musk sells $4 billion worth of Tesla shares following Twitter's acquisition, bringing his total wealth to $200 billion.
Since Elon Musk agreed to pay $44 billion to acquire Twitter, reports indicate that he has sold roughly 19.5 million shares of Tesla Inc.


The documents submitted to the SEC indicate that the value of these shares is close to $4 billion, as reported by The Verge.


According to the report, Musk has sold nearly $20 billion in shares of the electric vehicle manufacturer this year. It has been speculated that this massive divestment was undertaken primarily to fund the $44 billion acquisition of Twitter.


Both in April ($8.4 billion) and August ($6.9 billion), Elon Musk has sold a total of $15.4 billion worth of Tesla shares. But he said there would be no more sales after this round.

Musk also tweeted, "No further TSLA sales planned after today."

With his takeover of Twitter came sweeping changes, including the dismissal of nearly half of the company's staff and the introduction of a verification charge.


On Tuesday, investors dumped Tesla shares over concerns that the Chief Twit was becoming more preoccupied with Twitter, causing Musk's net worth to drop below $200 billion, according to a report by Reuters. With production at the electric vehicle manufacturer ramping up and competition on the rise, the report states, "Now Wall Street fears that Musk has stretched himself too thin."


Musk's nearly 15 percent stake in Tesla, which has a market value of $622billion, accounts for a large portion of his current net worth of $197.4 billion, as reported by Forbes.

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