Elon Musk has sold a further $3.6bn in Tesla shares as he struggles in the wake of the disastrous Twitter acquisition.
News of Musk’s share sale has emerged directly from a United States Securities and Exchange Commission filing. It brings the total of Tesla shares sold by Musk over the past year to $40bn.
While Musk remains Tesla’s biggest single shareholder, his stake has now dropped to just 13.4%.
Elon Musk started selling off his Tesla shares back in November of last year in order to pay his taxes, and following the result of poll he posted on Twitter. He sold more in August of this year, when the trial over his attempted withdrawal from the Twitter acquisition was due to commence.
Musk took over Twitter in October, which has prompted concerns from investors that he is not able to fulfil his role as Tesla CEO.
The troubled CEO lost his title as the world’s richest man earlier this week due to the falling share price of Tesla. The electric car company’s value has dropped in the wake of Musk’s Twitter acquisition.
Musk’s handling of Twitter has been nothing short of disastrous, with users and advertisers abandoning the service due to the increasingly Toxic nature of its new CEO.
Earlier in the week, Twitter relaunched its much-derided Twitter Blue subscription service in a bid to claw back some money, with an added premium price for users who buy through the Apple App Store.
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