Ilon Masks, head of the US electric car company Tesla Motors, sold his $ 8.4 billion stake in the carmaker after Twitter took over his takeover bid.
The U.S. Securities and Exchange Commission (SEC) reports that Masks sold 9.6 million shares of Tesla on Tuesday, Wednesday and Thursday.
To fund the acquisition of Twitter, Masks has pledged up to $ 21 billion from his personal wealth.
However, a large number of investors and analysts have expressed concern that the deal will be implemented due to questions about its funding and concerns that Twitter would distract Masks from running Tesla.
Twitter reportedly confirmed the company will sell $ 44 billion to Moscow on Monday.
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