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Twitter’s new owner, Elon Musk, has sold nearly $4bn (£3.43bn) worth of Tesla shares, according to US regulatory filings.
Tesla chief executive Mr Musk bought Twitter for $44bn (£38bn) and sold the company between Nov. 4 and Nov. 8, according to filings with the U.S. Securities and Exchange Commission on Tuesday. 19.5 million shares in an electric vehicle company.
He sold $7bn (£6bn) worth of Tesla shares in August as he struggled to fund the Twitter purchase he was trying to get out of at the time.
In total, Mr Musk has sold more than $19bn (£16.5bn) worth of Tesla shares since April, including in Tuesday’s filing, which could be his share of the Twitter buy Funding.
Much of Mr Musk’s wealth is tied to Tesla stock. His personal net worth fell below $200bn (£173bn) on Tuesday, but he remains the world’s richest man, according to Forbes.
Mr. Musk has arranged for banks, including Morgan Stanley, to help fund the Twitter deal.
Wedbush analyst Dan Ives estimated his initial share of the deal at about $15.5 billion. But if equity investors pull out, Musk will have to replace them or put in more of his own money.
Tesla shares closed down $5.78 (£5), or 2.9%, to $191.30 (£166). The stock has lost 52% of its value since the beginning of the year. By contrast, the S&P 500 has fallen about 20% so far this year.
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