Elon Musk sells 19.5 million Tesla shares worth almost $4 billion • TechCrunch

Tesla CEO Elon Musk is selling millions of Tesla shares again. The famed executive dumped 19.5 million shares on Tuesday, worth about $3.95 billion, according to three documents filed with the U.S. Securities and Exchange Commission.

Musk did not use Twitter to explain why he sold shares, but the money may go towards his $44 billion deal to buy the social media platform, which closed last month.

In April, Musk also sold about 9.6 million Tesla shares, which were worth $8.5 billion at the time. Those shares sold for around $885.42. Since then, Tesla has issued a three-for-one stock split, lowering the cost of each share.

Musk sold shares on Tuesday at an average price of $202.56 each.

Tesla is currently trading at $191.30 after hours.

Read more about Elon Musk's purchase of Twitter on TechCrunch

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