Just days after he agreed to buy Twitter, Elon Musk the chief executive of Tesla has sold roughly $8.5 billion worth of shares in the electric car maker.
Speculation was led by the sale, that it will help Musk to finance his planned $44 billion buyout of the social media platform.
On Monday, Twitter's board agreed to accept a takeover offer from Mr. Musk.
Amid speculation that Mr. Musk would sell part of his stake in the carmaker to fund the deal, made the shares in Tesla fell sharply earlier this week.
He tweeted on Thursday evening that he had no plans to sell any more of his shares in the electric carmaker.
Filings to the US Securities and Exchange Commission showed that Musk sold a total of 9.6 million Tesla shares this week. The multi-billionaire still owns more than 15% of the company.