The world's richest person, with a net worth of more than $200 billion, sold nearly $4 billion in Tesla stock after initially declaring he was done doing so.

On August 9, Musk used Twitter - which he now owns after a $44 billion purchase - to inform his followers and fans that he would stop offering shares of companies to fund his plan to acquire the social media platform.

In 2021, the tech entrepreneur sold $22 billion in Tesla shares, while this year, in April and August, the new Twitter CEO liquidated $8 billion and $7 billion in claims, respectively.

Meanwhile, he sold another 19.5 million Tesla shares worth $3.95 billion in a submission with the US Securities and Exchange Commission published on Tuesday.

Following this progress, at the time of writing, the price of shares in the electric car company was $191.30, down 2.93% from its peak of $194.90 per unit.

After the finalization of the deal that earned him the new Twitter CEO, the self-proclaimed "Dogefather" remains the focus of many news headlines.

US Vice President Joe Biden recently accused Elon Musk of spreading lies on a massive scale following his acquisition of the social media platform.

Furthermore, US Senator Chris Murphy suggested that investigations into the national security implications of Saudi Arabia's stake in Musk's massive Twitter purchase be conducted. Elon Musk's partners in the deal included Saudi Prince Alwaleed bin Talal bin Abdulaziz.

Elon Musk Ignores Crypto Plans

Following this decision, a few are wondering if SpaceX CEO Elon Musk will soon sell his crypto holdings, given that he has done so in the past.

Musk's Tesla sold 75% of its Bitcoin holdings in July of this year, surprising many people who thought the billionaire was serious about keeping his crypto balance in his portfolio.

However, as of now, he has remained silent on his thoughts on cryptocurrencies, making no mention of even his favorite asset, Dogecoin.

What do you think of his decision to sell Tesla shares? Let us hear your thoughts by sharing this article on social media.

Posted 
Nov 9, 2022
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