Elon Musk has sold around $5 billion (£3.7 billion) of shares in Tesla.
The move comes just days after Musk polled his 63 million Twitter followers over whether he should sell 10 per cent of his stake in Tesla.
The firm's shares fell by around 16 per cent in the two days after the verdict was in favour of him selling shares but did regain some ground on Wednesday (10.11.21).
Musk's trust sold almost 3.6 million shares in Tesla that are worth around $4 billion.
The sales equate to about three per cent of Musk's total holdings in Tesla, although it has not been confirmed if they are related to his weekend Twitter poll.
Musk posted the poll to his followers to vote on whether he should sell part of his stake in the company to meet his tax obligations.
He tweeted: "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
"I will abide by the results of this poll, whichever way it goes."
The poll attracted more than 3.5 million votes and nearly 58 per cent voted in favour of the share sale.
Musk has kept silent regarding any share sales since his Twitter poll.
The Tesla chief's approach to the issue raised some eyebrows in the world of economics.
Venture investor Chamath Palihapitiya tweeted: "We are witnessing the Twitter masses deciding the outcome of a $25B coin flip."
Berkeley economist Gabriel Zucman added: "Looking forward to the day when the richest person in the world paying some tax does not depend on a Twitter poll."
