BREAKING NEWS: Elon Musk sold $4bn of Tesla shares as he buys Twitter, SEC filings reveal, with huge sale blamed for 20% plunge in car firm’s stock price

  • Elon Musk sold 4.4 million shares of Tesla valued at nearly $4 billion 

Elon Musk sold 4.4 million shares of Tesla valued at nearly $4 billion, according to filings with the Security Exchange Commission. 

The sale in shares, which were conducted on Tuesday and Wednesday, was coupled with the stock of the electric vehicle company plummeting 20 percent, with Musk, the company’s CEO, simply tweeting on Thursday, ‘No further TSLA sales planned for today.’

The sale comes as Musk, the world’s richest man, goes forward with his plan to purchase Twitter for $44 billion. 

Elon Musk (above) sold 4.4 million shares of Tesla valued at nearly $4 billion on Thursday

Tesla's stock began plummeting on Tuesday as Musk started offloading his shares

Tesla’s stock began plummeting on Tuesday as Musk started offloading his shares

According to the SEC filings, Musk, who owned 17 percent of Tesla, made the sales at prices between $870 and $1,000 per share. 

This story is developing. 

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