Elon Musk sells 19.5 million Tesla shares for almost $4 billion

 

Image Credits: SUZANNE CORDEIRO/AFP / Getty Images

Tesla Chief Executive Elon Musk sold off millions of Tesla shares once more. Musk, the famous executive, sold 19.5 million shares on Tuesday and is worth $3.95 billion, as per three filings to the U.S. Securities and Exchange Commission.

Musk did not go on Twitter to explain why the shares were sold, but it's possible that the proceeds could be used to fund the $44 billion agreement to purchase the social media company, which was approved last month.

On April 1, Musk was also able to sell around 9.6 million Tesla stock at the time, valued at $8.5 billion. These shares were sold for approximately $885.42. Since the time of sale, Tesla has issued a three-for-one split of its stock, bringing the price per share to.

Musk sold shares on Tuesday at an average of $202.56 per share.

Tesla trades at $191.30 after hours.