Elon Musk sold roughly $8.5 billion worth of shares in Tesla to help fund his purchase of Twitter.
In filings with the Securities and Exchange Commission on Thursday and Friday, Musk disclosed the sale of 9.6 million shares. The trades were conducted for a total of $822.68 to $999.13.
Tesla Inc's stock was trading at roughly $904.50 on Friday.
Tesla's CEO, the world's richest man, tweeted Thursday night that he has no plans to sell any more of the company's stock.
Musk revealed on Monday that he has agreed to buy Twitter for $54.20 per share, or $44 billion. Analysts believe the buy will make Tesla investors anxious since Musk will be distracted by Twitter and less focused on running the electric car company, as well as selling a big number of Tesla shares to fund the purchase. Tesla's largest shareholder is Musk.
Musk is Tesla's largest shareholder.
Tesla shares fell 12 percent on Tuesday, the worst single-day decline since September 8, 2020. The stock is up more than 3% on Friday, but it is still down 10% for the week.
Twitter's stock increased 1.2 percent to $49.72, still significantly below the acquisition price.
Shareholders will weigh in on Musk's Twitter deal before it is finalized. Regulators in the United States and other countries where Twitter operates will follow suit.
Despite complaints from some Twitter staff and users concerned about Musk's attitude on free speech and what it would mean for harassment and hate speech on the network, few roadblocks are foreseen so far.


U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 



