Highlights

  • Musk has sold $32 billion worth of stock in Tesla in the last one year
  • Elon Musk's wealth has declined by $20 billion due to the fall in Tesla stock

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Why did Elon Musk sell $6.9 bn worth of Tesla shares?

With a $250.2 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index

Why did Elon Musk sell $6.9 bn worth of Tesla shares?

Elon Musk has sprung yet another surprise by selling nearly $7 billion worth of Tesla shares. The move comes just months after the billionaire had said that he planned no further Tesla stock sales.

Musk sold around 7.9 million shares between Friday andTuesday, regulatory filings show. With the latest sale Musk has sold $32 billion worth of stock in Tesla in the last one year. Musk said in April "no further TSLA sales planned," after he sold $8.5 billion worth of Tesla shares.

Twitter Trials: Musk to face legal onslaught from October

Technoking of Tesla is currently locked in a legal battle with Twitter over a 'botched' $44 billion buyout. The rationale for the latest sale of shares is still undisclosed.

Zomato delivers ESOP bonanza, shares for Rs 1

Tesla shares have risen about 35% from recent lows reached in May, though are still down about 20% this year.

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