Elon Musk robs Tesla to pay Twitter as his net worth erodes.
Elon Musk Sheds Billions of Tesla Shares as Net Worth Drops
https://www.thedailybeast.com/elon-...lion-worth-of-tesla-shares-as-net-worth-drops
Two weeks after his
$44 billion purchase of Twitter,
Elon Musk has sold almost $4 billion worth of Tesla shares, seeing his net worth drop below $200 billion on Tuesday.
Financial records from the U.S. Securities and Exchange Commission show the Tesla boss sold 19.5 million shares worth $3.95 billion between
Nov. 4,
Nov. 7 and
Nov. 8. The latest sale means Musk has sold a total value of Tesla shares equaling almost $20 billion since he announced his plans to buy Twitter; he sold $8.5 billion in April and close to $7 billion in August.
Tesla’s share price has dropped more than 50 percent since the beginning of this year. In August it plummeted by 12 percent after Musk
tweeted: “Tesla stock price is too high imo.” Despite his net worth dropping below $200 billion on Tuesday, Musk still stands at the top of the world’s richest people with a net worth of $197.4 billion, according to
Forbes. Most of that worth still sits with what’s left of his stake in Tesla.
Read it at U.S. Securities and Exchange Commission