Elon Musk sold another USD 3.58 billion worth of Tesla stock this week, but it wasn’t clear where the proceeds were being spent. The Tesla CEO, and new owner of Twitter, sold the sharesin three days, according to a filing posted  by the US Securities and Exchange Commission.

Musk has sold nearly USD 23 billion worth of Tesla stock since April, with much of the money likely going to help fund his USD 44 billion acquisition of Twitter.

The sale comes as shares of the electric vehicle and solar panel maker have collapsed, losing over half their value since Musk first disclosed in April that he was buying up Twitter stock.

The falling shares have bumped Musk from his status as the world’s wealthiest person, with his net worth falling to USD 174 billion, according to Forbes.

He was passed last week by French fashion and cosmetics magnate Bernard Arnault.

Investors have been punishing Tesla stock of late as Musk has spent much of his time running Twitter, raising fears that he’s distracted from the car company.

Wedbush analyst Dan Ives said Musk is now a villain in the eyes of Tesla investors.           Source: AP