Tech billionaire Elon Musk once again broke the promise he made in April to not sell any more of his Tesla stock, according to a Wednesday financial report that showed he sold 22 million shares totaling $3.6 billion in value.
Mr. Musk, CEO of Tesla, first broke his promise when he sold 19.5 million shares after he agreed to purchase Twitter in late October and told company employees that he sold more stock of the car company to save the social media firm.
Tesla has had a difficult year financially as Mr. Musk has taken on more responsibilities outside the company, a move that has shaken the resolve of some Tesla and SpaceX investors. Tesla stock has lost over half its value from this time last year, dropping to about $158 from $325.
The stock trades come during a turbulent time for Mr. Musk and his business’ finances. Since his takeover of Twitter, which took significant loans to afford, he has focused on cutting costs. This has included firing a large portion of the staff and a plan to auction off office furniture.
The auction, set to take place Jan. 17, will feature several common items like coffee makers and chairs but also unique items such as a large “@” symbol and a Twitter bird statue.
Mr. Musk has also signaled he might move Twitter‘s headquarters out of San Francisco, where the company was founded in 2006.
The city launched an investigation into possible violations of building code after Forbes reported some offices were turned into makeshift bedrooms where employees could rest.
Mr. Musk publicly retaliated against the city’s decision to investigate and has criticized the city’s culture.
Twitter is trying to renegotiate the terms of the lease agreement for the building in what some see as a move toward relocation.