Tesla shares worth $3.6 billion are sold by Elon Musk.

Elon Musk has sold a further $3. 6bn worth of shares in tesla, inside the equal week that he lost the name of worldwide’s richest man to france’s bernard arnault.

The disposal, revealed in a regulatory filing, takes the whole amount raised by musk from sales of his inventory inside the electric powered carmaker this year to greater than $20bn.

The tesla ceo has been elevating price range to pay for his $44bn acquisition of twitter, despite the fact that the submitting did no longer give a cause for the sale of 22m shares among monday and wednesday this week.

Forbes and bloomberg, which monitor the wealth of billionaires, said this week that musk changed into now not the sector’s richest guy, havingbeen overtaken by arnault, the chief govt of luxurious institution lvmh. In step with bloomberg, musk is worth $161bn and arnault, who presides over manufacturers louis vuitton and dom pérignon, is well worth $172bn.

Musk’s wealth in short slipped under arnault’s remaining week before he reclaimed pinnacle spot, most effective to lose it once more this week. The majority of musk’s wealth is largelyrepresented through inventory in tesla, wherein he has a shareholding of greater than thirteen%, in keeping with records issuer refinitiv. Tesla’s stock charge has halved this yr, underperforming automakers and the wider tech-heavy nasdaq, that is down about 30% this yr.

Up to 23 november this 12 months, musk has bought seventy two. 2m tesla stocks at a median price of $268 a percentage, producing pre-tax proceeds of $19. 4bn, according toveritydata. This week’s sales could take that overall to around $23bn. Musk installed extra than $20bn of his personal cash to buy twitter in october, alongside $7. 1bn from friends and around $4bn from his existing stake in the social media platform.

But, he additionally controls other valuable businesses, including his rocket company spacex, that’s reportedly in talks approximately a share supplying that might cost it at up to $150bn.

Along twitter, tesla and spacex, musk’s other commercial enterprise issues encompass the tunnelling company the uninteresting organisation and neuralink, a startup developing interfaces to connect the human brain to computer systems.

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