Elon Musk offloads another $3.9 billion in Tesla shares

Wow! More stock sales | Laura Normand / The Verge

Elon Musk has sold another $3.4 billion in Tesla shares, according to a series of forms filed with the Securities and Exchange Commission today. Musk has offloaded almost $20 billion in Tesla shares this year, mostly to finance his $44 billion acquisition of Twitter.

Musk sold $8.4 billion in shares in April and another $6.9 billion in August. After his sales in April, he tweeted, “No further TSLA sales planned after today.” Then after the sales in August, he again said that he was done selling, and that those shares were offloaded in case he had to buy Twitter — at the time, he was embroiled in a lawsuit for attempting to back out of the deal.

Twitter has been struggling. Some major advertisers have paused spending on Twitter because of...

Continue reading…