Hyperdrive

Elon Musk’s Tesla Share Sales Approach the $40 Billion Mark

Carmaker’s CEO offloaded $3.58 billion more stock this week
Latest disposal coincided with losing spot as No. 1 richest

WATCH: Musk has offloaded almost $40 billion worth of Tesla shares since late last year. Craig Trudell reports.Source: Bloomberg

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By Dana Hull

December 15, 2022 at 2:21 AM UTC

Updated on

December 15, 2022 at 4:13 PM UTC

This article is for subscribers only.

Elon Musk sold another $3.58 billion worth of Tesla Inc. shares, bringing the total amount he’s offloaded since late last year to almost $40 billion.

The latest disposal of about 22 million shares this week coincided with Musk falling from the top spot on the Bloomberg Billionaires Index, a position he’d occupied since September of last year. Tesla’s market value also slumped below the half-trillion-dollar mark for the first time since November 2020.