Musk sells $3.6b of shares in Tesla

Multi-billionaire Elon Musk has sold another 22 million shares, worth $3.58 billion, in the electric car maker Tesla.

The shares were sold on the Monday, Tuesday and Wednesday this week, according to a filing with a US financial regulator.

It brings the total of Tesla stocks sold by Musk over the past year to almost $40 billion.

Earlier this week Musk lost his position as the world’s richest person.

The reason for the latest share sales has not been disclosed.

He remains Tesla’s biggest shareholder with a 13.4 per cent stake, according to financial market data provider Refinitiv.                                         

• Elon Musk