Newsaholic

  The world’s richest person Elon Musk has sold 19.5 million of his shares in Tesla in a transaction worth $3.95bn, according to filings published by the US Securities and Exchange Commission on Tuesday. Tesla CEO has sold nearly $20bn worth of his stock in the electric car company. Musk now holds around 135 million Tesla shares. The latest move came after Musk purchased Twitter for $44bn. Reportedly, Musk has sold nearly $20bn-worth of his stock in Tesla since he initially invested in Twitter in April. Earlier in August, Musk reportedly said that he sold Tesla stock. Tesla also reported $3.3bn in profit and $21.45bn in revenue for the third quarter – falling short of Wall Street expectations. According to The Guardian, Tesla’s value has dropped about 46% this year. Reportedly, a consortium of banks loaned $13bn to Musk to finance the deal. He purchased Twitter for $44bn last week. He also received support in the form of $7bn from investors. After purchasing Twitter, Mus...