Elon Musk, who has recently come to the fore with the Twitter purchase and the arrangements he made for the company, once again sold Tesla shares. But this time it has been costly for both himself and the shareholders. Because the share price crashed to the ground.
Tesla stock fell 50 percent!
Elon Musk, known as the richest man in the world, is the biggest investor of many companies from Tesla to SpaceX. Finally, he bought Twitter and pulled it from the stock market. But in doing so, he sold a large amount of Tesla shares.
Finally, it is known that he sold 19.5 million Tesla shares with a value exceeding $ 3.95 billion and has sold a total of $ 20 billion shares since last April. Therefore, this move of Musk, who shook the crypto money market with a tweet, caused the company to decrease in value.
About a year ago, Tesla’s market value exceeded 1 trillion dollars. The share value has risen to the level of 410 dollars. However, due to the successive sales of Musk, it is currently down to $ 190. The company’s market capitalization fell to $599 billion.
It is known that Tesla shareholders and managers are not satisfied with this situation. But since Musk’s wealth comes not from the cash he has, but from the valuation of his investments in companies, he has to sell shares even while paying taxes.
Of course, there are investors who look at this situation with the glass half full. They state that the company’s depreciation is not due to the bad course, but due to Musk’s personal decisions, so it will rise again. But the only thing that can be said for sure about Elon Musk is that his next move is uncertain.