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Musk sells $US6.9b of Tesla shares, US SEC filings show

Elon Musk sold $6.9 billion of shares in Tesla Inc, according to regulatory filings Tuesday, the first time he has sold stock in the car maker since dropping his bid to buy Twitter Inc.

Tesla’s chief executive officer offloaded the shares on August 5, according to the new filings. Musk has now sold around $32 billion worth of stock in the electric-car maker in the past 10 months. The purpose of the latest sales wasn’t immediately clear.

Tesla’s stock slumped late last year as Musk offloaded more than $US16 billion worth of shares, his first sales in more than five years. The disposals started in November after Musk polled Twitter users on whether he should trim his stake.

The shares have risen about 35 per cent from their recent lows in May.

With a $US250.2 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index. His wealth has fallen $US20 billion this year as Tesla shares fell from around $US1200 at the start of the year.