iPhone | iPad
Android
Huawei
Total income reached to Dh5.607 billion compared to Dh4.431 billion, a solid expansion of 26.5 per cent YoY
KT APPDOWNLOAD
Elon Musk sells Tesla shares worth $3.58 billion
The latest sale, Musk’s second since his $44 billion purchase of Twitter in October, brings the total Tesla stocks sold by the billionaire to nearly $40 billion over the past year
Elon Musk now owns 13.4 per cent of the world’s most valuable carmaker.
Tesla Inc Chief Executive Officer Elon Musk has sold 22 million shares worth $3.58 billion in the electric-vehicle maker this week, a US securities filing showed on Wednesday.
The latest sale, Musk’s second since his $44 billion purchase of Twitter in October, brings the total Tesla stocks sold by the billionaire to nearly $40 billion over the past year.
He now owns 13.4 per cent of the world’s most valuable carmaker, according to Refinitiv data.
Investor concerns that Musk’s purchase of Twitter could divert his time away from Tesla have driven down shares of the company more than 60 per cent in 2022, making it one of the worst-performing stocks among major automakers and tech firms this year.
The stock hit its lowest in over two years last night.
Musk, who recently lost his title as the world’s richest person, unloaded shares over three days between Monday and Wednesday, according to the filing.
Tesla did not immediately respond to a Reuters request for comment outside business hours.
The latest share sale comes a month after Musk sold shares worth $4 billion in Tesla days after he closed the Twitter deal. — Reuters
More news from Business
Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, presented the awards to the winners in various categories
Move aims to deepen multi-sectoral cooperation
Brands in the UAE and the region have been advised to create the right awareness schemes that they’re deemed neutral
This continuous rise in investment is attributed to an emerging trend of financialisation of savings
The UAE registered trademarks totalling 4,610 in Q1
One of the driving forces behind the growth is the adventurous spirit of millennials and Gen Z
Figure reflects the emirate’s growing appeal as a preferred investment hub for innovative technology companies
