The CEO of one of the largest companies in the world continued to sell shares in December as he balances the work and financial demands of being the leader of three companies. Here’s a look at how much Tesla Inc TSLA stock Elon Musk owns after his latest sale.
What Happened: Tesla CEO Elon Musk sold around 22 million shares of Tesla from Dec. 12 through Dec. 14, according to filings that were reported by Benzinga Wednesday night.
The sales totaled around $3.6 billion and continue a history of sales of Tesla in 2022, which could be in relation to Musk now being the owner and CEO of social media company Twitter.
Musk has now sold around $40 billion in Tesla shares over the last year, including sales in April, August, November and December, as reported by Benzinga’s Insider Trades page.
Tesla shares were sold at a price range of $167.55 to $168.54 in the latest sales.
After the latest sale by Musk, the Tesla CEO owns 423,622,432 shares of the electric vehicle company, according to the filing.
Based on 3.16 billion shares of Tesla outstanding, Musk owns around 13.4% of Tesla. The shares and ownership percent do not include share-based incentives that could unlock additional shares for Musk.
Related Link: Tesla Stock Could Crash To $20 If Elon Musk Doens't Pull It Together
Why It’s Important: Musk purchased Twitter for $44 billion and sold shares of Tesla earlier this year to help fund the purchase.
Many Tesla analysts and experts have pointed to a Twitter overhang weighing on the share price of Tesla, as Musk could continue to sell shares to help fund operations at Twitter.
Tesla shares are down over 60% year-to-date in 2022.
The sharp decline in Tesla’s stock price has knocked Musk from the leader position as the richest person in the world. Musk is now ranked as the second richest person in the world worth $161 billion, a figure that is down $109 billion year-to-date.
The majority of Musk’s wealth comes from his ownership in Tesla and a large ownership stake in space company SpaceX, which could be valued at $140 billion soon.
Read Next: Is Elon Musk Hurting Tesla? Brand Charm Hits New Low On Heels Of Twitter Takeover
Photo courtesy of Tesla.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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