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| Elon Musk sells almost $4bn of Tesla shares | Elon Musk sells almost $4bn of Tesla shares |
| (3 months later) | |
| Tesla boss Elon Musk has sold another 19.5 million shares of the electric car maker worth $3.95bn (£3.4bn), filings with the US financial watchdog show. | Tesla boss Elon Musk has sold another 19.5 million shares of the electric car maker worth $3.95bn (£3.4bn), filings with the US financial watchdog show. |
| The news comes less than two weeks after the world's richest man completed his $44bn takeover of Twitter. | The news comes less than two weeks after the world's richest man completed his $44bn takeover of Twitter. |
| Tesla's share price has fallen by more than 50% since the start of this year. | Tesla's share price has fallen by more than 50% since the start of this year. |
| Separately, Tesla is recalling just over 40,000 of its vehicles in the US because of a potential problem with their power-steering. | Separately, Tesla is recalling just over 40,000 of its vehicles in the US because of a potential problem with their power-steering. |
| The reason for the latest sales, which took place in the last week, has not yet been disclosed. | The reason for the latest sales, which took place in the last week, has not yet been disclosed. |
| The latest sale brings the total value of Tesla shares sold by Mr Musk to almost $20bn since he announced earlier this year that he had bought a stake in Twitter. | The latest sale brings the total value of Tesla shares sold by Mr Musk to almost $20bn since he announced earlier this year that he had bought a stake in Twitter. |
| He sold $8.5bn of Tesla stock in April this year and around another $7bn worth in August. | He sold $8.5bn of Tesla stock in April this year and around another $7bn worth in August. |
| Also in August, Tesla shareholders approved a three-for-one stock split, which is behind part of the fall in the value of the shares. | Also in August, Tesla shareholders approved a three-for-one stock split, which is behind part of the fall in the value of the shares. |
| Who is Elon Musk? | Who is Elon Musk? |
| Musk says 'no choice' but to slash Twitter staff | Musk says 'no choice' but to slash Twitter staff |
| Electric car recalls | Electric car recalls |
| On Tuesday Tesla recalled just over 40,000 of its cars in the US because of a potential power-steering problem. | On Tuesday Tesla recalled just over 40,000 of its cars in the US because of a potential power-steering problem. |
| The electric car manufacturer said the vehicles' power-steering assist system may fail on rough roads or after hitting a pothole. | The electric car manufacturer said the vehicles' power-steering assist system may fail on rough roads or after hitting a pothole. |
| The National Highway Traffic Safety Administration said it could require greater steering effort, especially at low speeds, increasing crash risks. | The National Highway Traffic Safety Administration said it could require greater steering effort, especially at low speeds, increasing crash risks. |
| Tesla has released a software update to recalibrate the system. | Tesla has released a software update to recalibrate the system. |
| It was unaware of any injuries or deaths in connection with the problem, it said. | It was unaware of any injuries or deaths in connection with the problem, it said. |
| Twitter job cuts | Twitter job cuts |
| Since taking control of Twitter last month Mr Musk has cut around 50% of the company's workforce. | Since taking control of Twitter last month Mr Musk has cut around 50% of the company's workforce. |
| Mr Musk tweeted that he had "no choice" but to slash the company's workforce as the firm is losing more than $4m a day. | Mr Musk tweeted that he had "no choice" but to slash the company's workforce as the firm is losing more than $4m a day. |
| He has also blamed "activist groups pressuring advertisers" for a "massive drop in revenue". | He has also blamed "activist groups pressuring advertisers" for a "massive drop in revenue". |
| The shake-up of the social media platform includes charging users $8 for blue check verification marks. | The shake-up of the social media platform includes charging users $8 for blue check verification marks. |
| Related Topics | |
| NASDAQ | |
| Elon Musk | |
| Tesla |