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AP National Business

Elon Musk sells $3.58B worth of Tesla stock, purpose unknown

KIFI
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Published 9:31 PM

DETROIT (AP) — Elon Musk sold another $3.58 billion worth of Tesla stock this week, but it wasn’t clear where the proceeds were being spent. The Tesla CEO and new owner of Twitter sold the shares from Monday through Wednesday, according to a filing posted Wednesday night by the U.S. Securities and Exchange Commission. Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44 billion acquisition of Twitter.

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