SEC

According to a series of financial filings published on Tuesday, Tesla CEO and multi-billionaire Elon Musk has sold 7.92 million shares of Tesla, understood to be worth approximately $6.88 billion.

In April, Tesla CEO Elon Musk reached a $44 billion deal to takeover social media platform Twitter but has now pulled out.

On Wednesday, the US Securities and Exchange Commission (SEC) chief Gary Gensler proposed rule changes to transform the way Wall Street handles retail stock trades following the meme stock mania of last year.

British banking giant Barclays has suspended its $1.25 billion share buyback plan until a resolution has been reached with US regulators over a major trading error.

Tesla and SpaceX CEO Elon Musk has taken an almost $3 billion stake in Twitter, becoming the social media giant’s largest shareholder.