Tesla boss Elon Musk sells millions of Tesla shares again. The prominent executive sold 19.5 million shares worth about $3.95 billion on Tuesday, according to three filings with the SEC.
Musk didn’t take to Twitter to explain why he sold shares, but it’s possible the money will go toward his $44 billion deal to buy the social media platform, which closed last month.
Musk also sold around 9.6 million shares of Tesla stock in April, which was valued at $8.5 billion at the time. These shares sold for around $885.42. Since then, Tesla has issued a three-for-one stock split, lowering the cost of each share.
Musk sold shares Tuesday at an average price of $202.56 a share.
Tesla is currently trading at $191.30 in after-hours trading.