Elon Musk has sold off another £2.9 billion in Tesla stock, taking his total near $40 billion this year.
has sold another $3.6 billion in Tesla stock, taking his total near $40 billion this year and investors are not happy.
On Wednesday, a US securities filing showed that the billionaire unloaded 22 million shares in the world’s most valuable carmaker over three days from Monday to Wednesday.$44 billion purchase of TwitterIt isn’t clear if the sales are related to the Twitter acquisition, but they are annoying investors who are upset by a perception he is diverting his focus and resources to Twitter over Tesla.
‘It doesn’t put a lot of confidence in the business, or speak volumes for where his attention is at,’ Tony Sycamore, an analyst at brokerage IG Markets, where Tesla is a popular stock among small-time investors told Reuters.‘It’s not a good situation. I’ve spoken to a lot of investors who have Tesla shares and they’re absolutely furious at Elon.
The latest share sale comes a month after Musk sold shares worth $4 billion in the days after he closed the Twitter deal.
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