Beautiful Virgin Islands

Saturday, Oct 04, 2025

The Week Elon Musk Slipped To 2nd Richest, He Sold $3.6 Billion Shares In Tesla

The Week Elon Musk Slipped To 2nd Richest, He Sold $3.6 Billion Shares In Tesla

The Tesla share sale happened around the same time this week when Bernard Arnault, the owner of luxury goods firm LVMH, displaced Elon Musk as the world's richest person
Tesla chief executive Elon Musk has sold $3.6 billion worth of shares in the electric vehicle firm, according to a filing in the United States Securities and Exchange Commission.

The sale happened around the same time this week when Bernard Arnault, the owner of luxury goods firm LVMH, displaced Mr Musk as the world's richest person.

Mr Musk has so far this year raised over $20 billion by selling his shares in Tesla. He has been raising money to pay for his $44 billion acquisition of Twitter.

The regulatory filing, however, does not mention the purpose of the latest share sale.

Mr Musk, 51, has seen his fortune fall by more than $100 billion since January to $168.5 billion, according to the Bloomberg Billionaires Index as of 10.20 am in New York on Wednesday.

Mr Musk's fall from atop the rankings - the first time that has happened since he was No. 2 in September 2021 - caps a tumultuous year for the frenetic billionaire.

He shocked the world in April with his offer to take Twitter private for $44 billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes.

Tesla shares also extended declines to hit their lowest level in more than two years on Wednesday, as investors including a "fanboy" of Mr Musk lashed out at his distraction from the electric car company following his buy of Twitter.

"Elon abandoned Tesla and Tesla has no working CEO," KoGuan Leo, the third largest individual shareholder of Tesla, who describes himself of Mr Musk's "fanboy," tweeted on Wednesday.

"Are we merely Elon's foolish bag holders?" he said. "An executioner, Tim Cook-like is needed, not Elon."
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
×