Elon Musk Sells $8 Billion in Tesla Stock

Tesla CEO Elon Musk has sold over $8 billion worth of Tesla stock in filings with the SEC this week.

Musk is the world’s richest man and most of his net worth is based on his ownership of Tesla shares. He made a deal last week to buy Twitter for $54.20 per share.

Twitter reported first quarter revenue of $1.20 billion, an increase of 16% year-over-year. The company reported net income of $513 million and daily active users of 229 million worldwide.

Musk said on Twitter he was not selling any more shares in Tesla for now. According to SEC filings, he still has 162,963,251 Tesla shares worth $141.9 billion based on Friday’s closing price.