Possibly, according to investors quoted in an August 2024 article—but that was a prediction, not confirmation that Elon Musk sold Tesla shares to support X. The evidence cited at the time combined attributed reports about X’s finances, investor forecasts and a Tesla risk disclosure about what could happen if Musk were forced to sell pledged shares. Those are three different kinds of evidence, and none establishes a later sale.
What the August 2024 headline meant
Frank Landymore’s Futurism article, published August 16, 2024, framed a possible Tesla-share sale as an expectation voiced by investors and commentators. It did not report a confirmed transaction. Twitter, the name used in the headline, had been renamed X after Musk’s 2022 acquisition.
The word “dying” was rhetorical framing, not a measured conclusion established by the figures cited in the article. Its financial claims concerned reported periods in 2024 and should not be read as a statement about X’s present condition.
What was reported about X’s finances
Futurism said X reported U.S. second-quarter revenue of $114 million, down 53% from the same quarter a year earlier, citing internal numbers obtained by The New York Times. It also cited Fortune for an 84% revenue decline compared with the second quarter of 2022. These are figures attributed to reporting about private-company information; the cited article did not present audited X financial statements.
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The article also cited an analysis released in March that reported an approximately 23% decline in daily active users. The available account does not establish the analyst or methodology, so the percentage should be treated as an attributed estimate rather than a company-verified user count.
Why commentators predicted a Tesla-share sale
Bradford Ferguson, president and chief investment officer of Halter Ferguson Financial, was quoted by Fortune, as reported by Futurism, saying: “I would be expecting something between $1 and $2 billion in stock.” This was a forecast made in August 2024, not evidence that Musk sold shares.
Gary Black, managing partner of Future Fund and a Tesla investor, also argued that Musk might sell Tesla shares to address X’s reported shortfall. Futurism quoted his view that “The bleeding of X will continue and at some point Elon will have to sell more Tesla shares to plug the $1-2 billion per year hole at X.” That was Black’s opinion, not company guidance or a confirmed financing plan.
The article pointed to Musk’s Tesla-share sales in 2022 after acquiring Twitter as precedent for the possibility of another sale. Past sales do not establish that a later sale occurred or that its purpose would be to finance X.
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Tesla’s 2024 Form 10-K warns: “If Elon Musk were forced to sell shares of our common stock, either that he has pledged to secure certain personal loan obligations, or in satisfaction of other obligations, such sales could cause our stock price to decline.” This is a company risk disclosure about the possible market effect of a forced sale. It does not say Musk sold shares to fund X.
The filing separately reports that Tesla’s automotive sales revenue decreased by $6.03 billion, or 8%, in 2024 compared with 2023. Tesla attributed the decrease primarily to lower average selling prices—including price reductions and financing offers—and product mix. That is Tesla automotive revenue, not X revenue, and it is not evidence about Musk’s personal share sales.
How to distinguish the evidence
| Evidence type | What it establishes here | What it does not establish |
|---|---|---|
| Tesla’s SEC filing | Tesla disclosed that a forced sale of Musk’s pledged shares or sales to satisfy other obligations could pressure its stock price. | That Musk sold shares to support X. |
| Figures attributed to reporting about X | What the cited reporting said about X’s U.S. revenue and user activity in specified periods. | Audited company results or X’s current financial condition. |
| Investor and commentator forecasts | That Ferguson and Black expected or argued a sale was possible. | A completed sale, company guidance, or proof that X’s finances required one. |
Was there a later sale to support X?
The cited evidence does not answer that question. It documents forecasts made in August 2024 and a Tesla risk disclosure, but does not verify whether Musk later sold shares to support X or establish X’s subsequent financial position. The careful conclusion is therefore limited: commentators thought a sale was possible; the material cited for that claim does not prove it happened.
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