Elon Musk's Net Worth Slips Below $200 Billion As He Sells $3.95 Billion Tesla Shares After Buying Twitter

While the world¡¯s richest person Elon Musk is busy revamping the newly bought Twitter, his EV company Tesla and its shares, along with Musk¡¯s net worth, are tumbling.

Just a few days after he completed the $44 billion deal to takeover Twitter, Tesla CEO Musk has sold at least $3.95 billion worth of Tesla¡¯s shares this time. Elon Musk unloaded 19.5 million shares of Tesla, according to yesterday¡¯s regulatory filings in New York, as per Bloomberg report. The filings didn¡¯t indicate that the transactions were pre-planned.

As per Bloomberg billionaires index, Musk's current net worth stands at $179 billion, having lost over $90 billion this year.

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After the share sale, Elon Musk¡¯s net worth dropped below $200 billion for the first time this year. His net worth has dropped by almost 50% from last year¡¯s peak.

This also comes amidst Tesla shares being around 50% down this year, including a recent fall of about 15% in the past few days. The bloodbath in Tesla shares is also because of investors continuing to sell off the stock in the wake of CEO Musk being busy with Twitter revamping. Earlier this week, Tesla shares had fallen down 5% to close at $197.08, which was its lowest level since June 2021, as per the report.

Also Read: South Koreans Show Love For Musk As They Pile Up $15 Billion Tesla Stake

Musk¡¯s Third Tesla Shares¡¯ Sale This Year

Elon Musk had sold almost $22 billion worth of Tesla shares in 2021, a year which saw the stock jump over 50%, as per CNBC report. This year, when the stock is bleeding, Musk already sold over $8 billion worth of Tesla stock in April and roughly $7 billion worth in August.

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Despite mentioning in April that he had ¡°no further Tesla share sales planned¡±, Musk made the second sale of the year in August. That came amid Musk backing out of the $44 billion Twitter deal and therefore, a possibility of having to pay a $1 billion fine for the same.

During that time, he had tweeted "In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don¡¯t come through, it is important to avoid an emergency sale of Tesla stock."

Yes.

In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don¡¯t come through, it is important to avoid an emergency sale of Tesla stock.

¡ª Elon Musk (@elonmusk) August 10, 2022

And this recent sale makes it the third time that the world¡¯¡¯s richest person has sold some of his Tesla shares.

Also Read: Timeline Of Elon Musk-Twitter's $44 Billion Deal

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