Musk sells $10b of Tesla shares

Elon Musk sold $US6.9 billion ($10 billion) of shares in Tesla, according to regulatory filings Tuesday, the first time he has sold stock in the carmaker since dropping his bid to buy Twitter.

Tesla’s chief executive officer offloaded the shares on August 5, according to the new filings. Musk has now sold around $US32 billion worth of stock in the electric car maker in the past 10 months.

Tesla CEO Elon Musk speaks at the “Cyber Rodeo” grand opening celebration for the new $US1.1b Tesla Giga Texas manufacturing facility in Austin, Texas, on April 7. AP

Tesla’s stock slumped late last year as Musk offloaded more than $US16 billion worth of shares, his first sales in more than five years. The disposals started in November after Musk polled Twitter users on whether he should trim his stake.

The shares have risen about 35 per cent from its recent lows in May.

With a $US250.2 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index.

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