In the same week that he lost the title of world's richest man to France's Bernard Arnault, Elon Musk sold further Tesla shares worth $3.6 billion.

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The deal, which was disclosed in a regulatory filing, brings Musk's proceeds from sales of his shares in the electric carmaker to more than $20 billion so far this year.

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Despite the fact that the filing did not specify a reason for the selling of 22 million shares between Monday and Wednesday this week, the Tesla CEO has been raising money to pay for his $44 billion acquisition of Twitter.

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This Monday, it was revealed by Forbes and Bloomberg, who track the wealth of billionaires, that Arnault, the CEO of luxury conglomerate LVMH, had surpassed Musk as the richest person in the world.

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 According to Bloomberg, Arnault, who oversees companies including Louis Vuitton and Dom Pérignon, is worth $172 billion, while Musk is valued at $161 billion.

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 Arnault briefly overtook Musk in terms of fortune last week before regaining it and losing it again this week.

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According to data provider Refinitiv, the majority of Musk's fortune is represented by Tesla stock, in which he owns more than 13% of the company.

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Tesla's stock price has fallen by half this year, outperforming both the car industry and the Nasdaq, which is heavily weighted in technology and has fallen by around 30%.

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According to VerityData, as of 23 November this year, Musk had sold 72.2 million Tesla shares at an average price of $268 each, netting pre-tax proceeds of $19.4 billion. With this week's sales, the total would be close to $23 billion.

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In addition to $7.1 billion from associates and about $4 billion from his existing interest in the social media site, Musk invested more than $20 billion of his own funds in the purchase of Twitter in October.

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