Elon Musk, the world’s wealthiest individual with a net worth of more than $200 billion, sold about $4 billion worth of Tesla shares after claiming he was done selling them.
The tech tycoon sold $22 billion worth of Tesla shares in 2021, while the new Twitter CEO sold $8 billion and $7 billion worth of shares in April and August of this year, respectively.
Following this scenario, at the time of writing, after reaching a high of $194.90 per share, the price of the electric vehicle company’s shares was $191.30, a decrease of 2.93 percent.
The self-proclaimed “Dogefather” is still the focus of several news articles after the conclusion of the contract that established him as Twitter’s new CEO.
Following Elon Musk’s acquisition of the social media site, U.S. President Joe Biden has recently accused him of massively propagating falsehoods.
Musk, in what may be seen as revenge, used Twitter on the eve of the Midterm Elections to urge independent people to vote Republican, given that the presidency is already held by a Democrat.
Furthermore, U.S. Senator Chris Murphy has proposed looking into the consequences for the national security of Saudi Arabia being involved in the huge Twitter transaction made by Musk.
Elon Musk’s transaction was facilitated in part by the Saudi prince Mainly concentrating on bin Talal bin Abdulaziz.
As a result of this move, some speculate that SpaceX’s CEO would soon liquidate his cryptocurrency holdings, given that he has previously done so.
Many were taken aback when Musk’s Tesla announced in July that it had sold 75% of its Bitcoin holdings, as they had assumed the billionaire would be committed to maintaining his cryptocurrency assets.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.