Elon Musk sold 7.9 million shares of Tesla for $6.9 billion. Transactions took place between August 5 and 9, immediately after the annual meeting of Tesla shareholders, which was held on August 4 in Austin, Texas. Proceeds from the sale of shares may be needed by the billionaire if he is forced to close the deal to buy Twitter, and equity partners refuse to fund it. Musk also said that he would buy back some of Tesla's shares if he did not have to buy Twitter.