After a new $3.6bn cash-in shareholders worry that he may be favouring Twitter ahead of the electric carmaker
Tesla CEO Elon Musk speaks about new Autopilot features during a Tesla event in Palo Alto, California on October 14 2015. File Picture: REUTERS/Beck Diefenbach
The sale is the second big chunk of stock he has cashed out since his $44bn purchase of Twitter in October. It is not clear if the sales are related to the Twitter acquisition, but they are annoying investors who are upset by a perception that he is diverting his focus and resources to Twitter ahead of Tesla.
There was no immediate response to a Reuters request for comment from Tesla and from Musk emailed outside business hours. Musk’s 13.4% stake in Tesla is down from about 17% a year ago, according to Refinitiv data. Musk’s fortune, mostly tied up in Tesla shares, has fallen with prices this year and he briefly lost his title as the world's richest person last week — according to Forbes — when he was overtaken by Louis Vuitton boss Bernard Arnault.
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