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Elon Musk’s brother sold $109M of Tesla shares days before stock price fell


Tesla founder Elon Musk dropped $50 billion from his net worth in just two days after promising to sell down his investment in the company on a social media post, according to Sky News Business Editor Ross Greenwood.

Mr Greenwood said the drop in Mr Musk’s net worth marks one of the biggest falls in personal wealth in history and made the share price of Tesla fall as well.

There is a twist as Mr Musk’s brother, Kimble Musk, sold some of his shares in Tesla as well for US$109 million just days before the Twitter poll.

Both Elon and Kimble Musk are on the Tesla board and directors have strict rules about when they are allowed to buy and sell shares for their own companies.

Mr Greenwood said the timing had drawn suspicion and accusations of having inside information due to its proximity to the posting of the Twitter poll.

Tesla founder Elon Musk dropped $50 billion from his net worth in just two days after promising to sell down his investment in the company on a social media post, according to Sky News Business Editor Ross Greenwood.

Mr Greenwood said the drop in Mr Musk’s net worth marks one of the biggest falls in personal wealth in history and made the share price of Tesla fall as well.

There is a twist as Mr Musk’s brother, Kimble Musk, sold some of his shares in Tesla as well for US$109 million just days before the Twitter poll.

Both Elon and Kimble Musk are on the Tesla board and directors have strict rules about when they are allowed to buy and sell shares for their own companies.

Mr Greenwood said the timing had drawn suspicion and accusations of having inside information due to its proximity to the posting of the Twitter poll.
Tesla founder Elon Musk dropped $50 billion from his net worth in just two days after promising to sell down his investment in the company on a social media post, according to Sky News Business Editor Ross Greenwood.

Mr Greenwood said the drop in Mr Musk’s net worth marks one of the biggest falls in personal wealth in history and made the share price of Tesla fall as well.

There is a twist as Mr Musk’s brother, Kimble Musk, sold some of his shares in Tesla as well for US$109 million just days before the Twitter poll.

Both Elon and Kimble Musk are on the Tesla board and directors have strict rules about when they are allowed to buy and sell shares for their own companies.

Mr Greenwood said the timing had drawn suspicion and accusations of having inside information due to its proximity to the posting of the Twitter poll.

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