Following his announcement that he was purchasing Twitter, Musk has sold $40 billion worth of Tesla shares in the past year.
According to a regulatory filing, the CEO of Tesla sold 22 million shares in the manufacturer of electric vehicles for $3.58 billion.
This week’s sales took place from Monday through Wednesday. Around the time of his acquisition of Twitter, Musk sold over $40 billion worth of shares.
The CEO of Tesla engaged in a selling frenzy in April as he secured financing for his $44 billion acquisition of Twitter, which he had been trying to back out of since July. After declaring he would not sell any more shares, Tesla’s CEO sold an additional 7.92 million shares in August.
Musk finally acquired Twitter in October.
The billionaire sold nearly $4 billion worth of Tesla stock in the days following the acquisition. Shares of Tesla are down about 3% today and about 60% so far this year.
This week, it was revealed that Musk is no longer the richest person on earth.