Elon Musk has sold around $4bn (£3.2bn) worth of Tesla stock, a security filing has revealed, as the eccentric billionaire preps for his Twitter takeover.
Musk, the man behind SpaceX, sold the shares over the past few days, adding in a tweet that he does not plan to sale any further shares.
Tesla’s shares closed 12 per cent down on Tuesday, the day Musk made most of his sales – wiping $97bn (£77.2bn) off its valuation.
Though Tesla investors fear the founder could be distracted by the changes he wishes to pursue at Twitter.
The $44bn acquisition will be partly funded by a $13bn debt from Wall Street, Musk said.
However, he has yet to specify how the remaining $21bn will be financed, though the latest share sale will likely go towards to necessary capital.