Updated Dec 15, 2022 - Economy

Musk sells another batch of Tesla stock

Rebecca Falconer

Tesla CEO Elon Musk is pictured as he attends the start of the production at Tesla's "Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berlin. — Tesla CEO Elon Musk at the electric vehicle company's "Gigafactory" in Gruenheide, Germany, in March. Photo: Patrick Pleul/Pool/AFP via Getty Images

Elon Musk has sold some 22 million Tesla shares worth $3.58 billion, according to filings with the Securities and Exchange Commission Wednesday.

The big picture: The Tesla CEO publicly stated twice this year that he didn't plan to sell any more shares in the electric vehicle maker. However, filings last month showed he sold at least $3.95 billion worth of Tesla stock after completing his $44 billion takeover of Twitter.

Some Tesla investors expressed concern as shares in the firm slumped Wednesday to their lowest level in over two years that Twitter may become a distraction for Musk, Reuters notes.

Details: The filings indicated that Musk sold the latest shares in the company over three days, from Monday to Wednesday — bringing the total of Tesla stocks he's sold over the past year to almost $40 billion, per Reuters.

Go deeper: Elon Musk no longer in top spot on Forbes' real-time billionaires list

Editor's note: This article has been updated with additional details throughout.

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Musk sells another batch of Tesla stock

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