Musk’s $3.58 billion Tesla stock sale enrages investors

Last Wednesday, Elon Musk sold approximately $US3.58 billion ($NZ5.64 billion) worth of stock in Tesla, which has left investors enraged after the company’s value fell.

Many investors are blaming Musk’s $44 billion acquisition of social media platform Twitter for his distraction from the car company, leaving them feeling “abandoned”.

One such investor is Leo KoGuan who referred to himself as a Musk “fanboy” just last year but has since made it clear that he wants the billionaire axed from Tesla’s CEO position.

“Elon abandoned Tesla and Tesla has no working CEO,” he said in a post on Twitter.

“Tesla needs and deserves to have a working full-time CEO.”

Tesla’s share price has dropped 55 per cent since this year alone with Musk selling $22.9 billion in Tesla stock since he planned to buy Twitter earlier on in 2022.

Other reports now say he is seeking investors for the social media company while his car company continues to struggle.