Updated Apr 29, 2022 - Economy

Elon Musk sells $8 billion worth of Tesla stock after Twitter deal

Jacob Knutson

Elon Musk in Wilmington, Delaware, in July 2021. Photo: Al Drago/Bloomberg via Getty Images

Elon Musk sold shares of Tesla stock worth roughly $8.4 billion this week, according to new filings with the Securities and Exchange Commission on Friday.

Why it matters: The sell-off is presumably linked to his deal to buy Twitter for around $44 billion.

Tesla's stock price has fallen over 20% over the last six months, and there are indications that it could continue to fall.

What they're saying: Musk said in a tweet Thursday that he doesn't have any further plans to sell Tesla shares.

Go deeper: What Elon Musk's new side job could mean for Tesla

Editor's note: This story has been updated to reflect that new filings put the total value of Musk's stock sell-off at $8.4 billion.

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Elon Musk sells $8 billion worth of Tesla stock after Twitter deal

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