It comes days after he asked his 63 million Twitter followers whether he should sell 10% of his stake in Tesla.
The company's shares fell by around 16% in the two days after the poll came out in favour of him selling shares, before regaining some ground on Wednesday.
Tesla is the world's most valuable carmaker, with a stock market valuation of more than $1tn.
Mr Musk sold more than 930,000 shares in the company, about 0.5% of his stake, according to filings with the US stock market regulator.
The documents also showed that the sales were made based on a pre-arranged trading plan set up in September, long before Mr Musk's social media posts at the weekend about selling some of his shares.
On Saturday, Mr Musk posted a Twitter poll asking his followers to vote on whether he should sell part of his stake in Tesla to meet his tax obligations.
"Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock," he tweeted.
"I will abide by the results of this poll, whichever way it goes."
The poll attracted more than 3.5 million votes, with nearly 58% voting in favour of the share sale.