Tesla Inc CEO Elon Musk has just sold 22 million shares of Tesla stock worth USD $3.58 billion.
According to Reuters and Bloomberg, the sale was made known to the public through a filing with the United States Securities and Exchange Commission on December 14, bringing the total Tesla stocks sold by Musk just in the past year to over USD $40 billion.
Reuters says that the electric-vehicle company’s stocks have become one the “worst performing” in the industry this year, primarily due to investors worrying that Musk’s recent takeover of social network Twitter would divert his attention from Tesla.
Earlier this year, Musk completed his takeover of Twitter and has since promised big changes, such as the removal of the “Twitter for iPhone, Android labels” and has implemented a USD $8 dollar subscription for their verified badge.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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