Elon Musk Sells $3.6B Of Tesla Shares

Tesla ($TSLA@US) CEO Elon Musk sold about 22 million shares of his electric vehicle business, which were worth around $3.6 billion. Earlier this year, Musk told his millions of followers on social media that he had “no further TSLA sales planned” after April 28. He continued to sell his shares in Tesla after agreeing to buy Twitter ($TWTR@US), and he told employees there that he sold Tesla shares to “save” their business. Shares of Tesla dropped 2.6 percent by Wednesday’s closing at $156.80. The company’s shares are down 55 percent year-to-date as of Wednesday’s close.