Kimbal Musk, a Tesla director, sold 75,000 shares, worth approximately $28 million, trimming his stake to 1.46 million shares. Despite a 40% increase in Tesla stock since the November election, shares have declined 13% in early 2023, impacting Elon Musk's net worth significantly. Analysts suggest that perceptions of Musk's government roles and policies may negatively influence consumer sentiment and sales of Tesla vehicles, despite high expectations around the company's AI developments and overall market positioning.
Kimbal Musk sold 75,000 Tesla shares, worth about $28 million, reducing his stake by nearly 5% to 1.46 million shares amid fluctuating Tesla stock performance.
Tesla shares surged almost 40% since the election, yet have dropped 13% this year, leading to a significant decline in Elon Musk's net worth amid regulatory concerns.
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