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Elon Musk dumps another $3.5 billion of Tesla (TSLA) shares as stock hits 52-week low

This is the second time Musk has sold more than $3 billion of Tesla (TSLA) shares in a six week window.

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Elon Musk, the man who continues to dominate the news cycle, is making headlines again as he dumps another pile of Tesla (TSLA) shares. This time, the Twitter and Tesla CEO has sold $3.5 billion worth of Tesla shares.

SEC Form 4 filings reveal that Elon Musk has sold another $3.5 billion of Tesla (TSLA) stock over a three-day period. This was reported on by Chancery_Daily on Twitter on December 14, 2022. The filings reveal the shares were sold across numerous transactions with the price-per-share falling between a range of $155.43 and $177.15 across all transactions.

Musk sold some $4 billion worth of stock at the start of November. The unit price then was between $189.57 and $219.90. Since that time, the stock prices have fallen to a 52-week low. It’s also worth noting that Musk has previously stated that he had no plans to sell additional TSLA shares after April 28. However, it’s not a leap to assume this is related to his $44 billion purchase of Twitter.

“Just as my money was the first in, it will be the last out,” Musk stated in tweet from 2013 in regards to Tesla. While times change, it’s illuminating to see that he’s willing to sell off Tesla stock if it ensures he can, presumably, continue to pay down his debt.

While we can only infer that the continued sale of Tesla shares is in a bid to make payments on his Twitter debt, Musk has implemented measures to try and make Twitter profitable. With advertisers abandoning the platform, Musk has attempted to monetize the free app with Twitter Blue. For $8 USD a month on PC and $11 USD a month on iOS, users can get a blue checkmark as well as a few other benefits. It’s worth noting that Shackpets offers five different colored checkmarks for one $8 payment.

We’ll be sure to keep you up to date on the latest happenings with Elon Musk. This is unlikely to be the last time he does something noteworthy.

Guides Editor

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as a Guides Editor. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can Tweet him: @SamuelChandler 

From The Chatty
    • reply
      December 14, 2022 8:39 PM

      Now he can pay his rent... maybe

    • reply
      December 14, 2022 8:45 PM

      I didn’t realize teslas market capitalization was that they are by far number 1 in the world with the next 3 automakers barely equaling them

      https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/

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      December 15, 2022 7:18 AM

      What sucks is no matter how bad things get, he'll never be poor.

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        December 15, 2022 7:24 AM

        no one should be poor

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        December 15, 2022 7:25 AM

        He lost his richest man in the world title recently. Must've been a huge blow to the ego. Not sure he will recover.

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        December 15, 2022 9:09 AM

        poor in spirit though

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      December 15, 2022 8:40 AM

      Awesome. Fuck this guy.

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        December 15, 2022 8:50 AM

        yep. he needs to be forcibly tied to twitter, ONLY, as it crashes and burns. tesla does not deserve this rapid fall just because of elon's NON-TESLA RELATED BULLSHIT

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          December 15, 2022 1:22 PM

          At the risk of feeding your inner troll: needs? Who is doing the “tying” here?

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        December 15, 2022 11:09 AM

        Lol yeah fuck the guy who can randomly decide to enrich himself by billions. I'm sure he's hurting.

        (I still agree with you, I just thought it was funny).

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      December 15, 2022 8:49 AM

      the board needs to really rethink if they want elon associated with tesla. he needs to go focus on twitter. tesla does not deserve this treatment because of one man's bored billionaire NPD syndrome.

      there's lots of ways to remove him from the company, and they should do so.

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        December 15, 2022 10:57 AM

        Well they could remove him as ceo but he has 14% of stock so I wonder who else he could team up with to upend the board instead of then acting out.

        Agree they should do something.

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          December 15, 2022 11:00 AM

          Also isn't his brother on the board? Probably just loaded with personal allies.

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            December 15, 2022 11:04 AM

            I mean this is the same board that gave him a $50+ billion deal to be CEO. And was sued by a shareholder because the "board failed to exercise independence from Musk" so yeah I don't expect them to do much of anything.

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              December 15, 2022 11:07 AM

              that was the celebrity CEO gamble. it worked. now, elon's no longer fulfilling the role of CEO of tesla. if it keeps dropping, they will do something. tesla is not elon musk, especially now that he's incapable of running that company because he is on his bored billionaire twitter tantrum

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              December 15, 2022 11:11 AM

              Yeah. It’s so bad that Larry Ellison left the Tesla board this august. That Larry Ellison.

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          December 15, 2022 11:01 AM

          right, he should be removed from company "employee" affiliation. I get the majority shareholder issue, but tesla's board needs to grow a pear as we say - elon's externalities are torching their company, and there are LOTS of other shareholders that can tell him to fuck right off. he can own stock but be severed from operations. tesla needs to distance themselves from him. it's time. he wants to focus on twitter, obviously, at the demise of tesla - no one there deserves that.

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            December 15, 2022 11:07 AM

            He is on the board. He gets a vote. His brother is on the board. The chair has been on the board for a decade. And one of Rupert murdoch’s sons is on the board. Oh, and a cofounder of Airbnb.

            That crew doesn’t sound like one that wants to remove Elon IMO.

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              December 15, 2022 11:13 AM

              fair. no idea who is on it, but LOTS of value is being destroyed because of elon's "not related to tesla" activities. if they like losing money because of his personal issues, well... that doesn't sound like those people... usually they will fire the fuck out of people that cost them millions...

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        December 15, 2022 11:33 AM

        The board is filled with his allies including his own brother. It’s not likely to happen or it will take a lot more than a stock crash.

        So far he’s weathered:
        NHTSA investigations for fatalities and emergency vehicles accidents involving autopilot
        A scandal involving coerced massages and HJs aboard his private jet
        Selling millions of his options/shares for Twitter
        50% stock crash

        He would have to murder someone himself by hand to get removed at this point.

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          December 15, 2022 11:36 AM

          You forgot the failed attempt to take Tesla private again that ended up with a big ass fine and home being removed as chair of the board.

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            December 15, 2022 11:39 AM

            Oh lord, yeah. How could I forget that?

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          December 15, 2022 11:41 AM

          yeah I suppose so. I guess the sum of events, and now the ongoing issue of he literally doesn't fucking care should be the final alarm bell for any company elon is associated with

          having thousands of folks out of jobs, countless others worried about it, destroying retirements... it's surreal they wouldn't consider removing him. but hey we live in fucking weird times where tycoons and bored billionaires do literally whatever they want

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          December 15, 2022 12:27 PM

          He's weathered all this because the board (rightly) believed his cult of personality is critical to the Tesla brand and its success. His current behavior is making his personal brand value start to be more of a liability than a strength. That's a new type of risk.

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      December 15, 2022 9:56 AM

      Yes

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