Tesla billionaire Elon Musk has sold about $5bn in shares amounting to roughly 3% of his Tesla holdings.
It comes after he polled Twitter users about selling 10% of his stake.
Musk on Saturday polled Twitter users about selling 10% of his stake, helping to push down Tesla’s share price after a majority said they agreed with the sale.
About $4bn worth of the sale – 3.6m shares – could be considered as counting towards his 10% pledge on Twitter.
Another $1.1bn worth, amounting to 934,000 shares, was sold under an options arrangement to acquire nearly 2.2m shares that was already in train before the poll, filings show.
“I will abide by the results of this poll, whichever way it goes,” Musk had tweeted.