Musk reduced his holdings of Tesla shares for three consecutive trading days, cashing out 3.95 billion US dollars.

CTOnews.com November 9 news, according to the official website of the US Securities Regulatory Commission, Tesla CEO Elon Musk disclosed in his regulatory documents that at least 19.5 million Tesla shares were sold for three consecutive trading days on November 4, 7, and 8, respectively, valued at $3.95 billion (about 28.598 billion yuan).

According to Forbes magazine, Musk currently has a net worth of $194.8 billion (about 1.41 trillion yuan), a large part of which comes from his nearly 15 per cent stake in Tesla. CTOnews.com learned that Tesla's market value has lost nearly half since Musk announced his bid for Twitter in April, and his net worth has shrunk by $70 billion to less than $200 billion.

Tesla's fifth place in the S & P 500 has just been replaced by established economic giant Berkshire Hathaway due to a massive loss of market capitalization. At Tuesday's close, Tesla had a market capitalization of $604 billion.

Before that, Musk had sold at least $15 billion worth of shares. Last month, he completed a $44 billion acquisition of Twitter with a $13 billion loan and a $33.5 billion mortgage for a stake in Tesla.