Elon Musk has sold 19.5mln of his shares in Tesla in a US$3.95bn disposal to help fund his takeover of Twitter or possibly LIverpool FC according to football gossip.
The billionaire and Tesla chief executive has made several sales of shares since he launched his US$44bn bid for the social media platform in April and that finally completed two weeks ago.
Tesla’s share price has fallen over 50% to US$191.30 since the beginning of 2022 with Musk selling US$8.5bn worth of shares in April and a further US$7bn in August.
Following this latest sale Musk now owns a 14% stake in the electric vehicle manufacturer.
Investors have become increasingly concerned about his commitment to Tesla and with growing competition in the electric vehicle market, some suggest he has taken on too much.
How he is funding the Twitter deal has also been the source of much speculation as most of his wealth is tied up in shares in Tesla.
Jay Hatfield, at Infrastructure Capital Management, said: "It seems like Elon Musk is spending 100% of the time on Twitter and you know, it might need more capital."
According to Forbes, Musk’s net worth dropped below the US$200bn mark on Tuesday to US$194.8bn.
Tesla has a current market value of US$599bn but has had difficulties of its own recently and recalled over 40,000 vehicles in the US due to potential issues with their power steering.