Tesla boss Elon Musk has sold another 19.5 million shares in the electric car maker worth $3.95bn (£3.4bn), a filing with US financial watchdog Show.
The news comes less than two weeks after the world’s richest man completed his $44 billion takeover of Twitter.
Tesla’s share price has fallen more than 50 percent since the start of this year.
Separately, Tesla is recalling more than 40,000 of its vehicles in the U.S. due to a potential problem with its power steering.
The reason for the latest sale, which took place last week, has not yet been disclosed.
The latest sale brings the total value of Tesla shares sold by Mr. Musk to nearly $20 billion since he announced earlier this year that he had bought a stake in Twitter.
He sold $8.5 billion worth of Tesla stock in April of this year and nearly $7 billion in August.
Also in August, Tesla shareholders approved a three-for-one stock split, which is behind the share’s decline.
Electric Car Comes to Mind.
On Tuesday, Tesla recalled more than 40,000 of its cars in the U.S. due to a potential power steering problem.
The electric car maker said the vehicles’ power steering assist system could fail on rough roads or after hitting a pothole.
The National Highway Traffic Safety Administration said it may require more steering effort, especially at lower speeds, increasing the risk of a crash.
Tesla has released a software update to reset the system.
It said it was unaware of any injuries or deaths related to the issue.
Twitter Job Cuts
Since taking control of Twitter last month, Mr. Musk has cut the company’s workforce by about 50 percent.
Mr. Musk tweeted that he had “no choice” but to cut the company’s workforce because the firm was losing more than $4 million a day.
He also blamed “activist groups putting pressure on advertisers” for the “massive drop in sales”.
The social media platform’s change includes charging users $8 for BlueCheck verification marks.
