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Getting Near 10%, Elon Musk Says He’s ‘Sold Enough’ Stock

Elon Musk

Elon Musk - TV6 News\Flickr

No more selling Tesla’s shares. In an interview with the satirical website the Babylon Bee, Elon Musk said that he sold “enough stock” of his Tesla’s.

Musk sold another 583,611 shares on Tuesday, which makes the total of shares he has sold 13.5 million.

“I sold enough stock to get to around 10% plus the option exercise stuff and I tried to be extremely literal here,” Musk said.

Tesla CEO has planned to sell 10% of his shares on Nov. 6  when he asked Twitter users to vote whether he should sell Tesla’s stock to pay taxes. 3.5 million voted on the poll and the result was “Yes” with 57.9%. And to get near 10%, he sold an additional “incremental stock”. The world’s most valuable car company lost about a quarter of its value after that tweet.

On Sunday, Elon Musk said that this year he would pay more than $11 billion in taxes. An 8.06 million of the 13.5 million shares, were sold to pay taxes related to his options exercised.

Since it has significantly lower taxes, the billionaire, moved Tesla’s headquarters and his residence from California to Texas this year.

“California used to be the land of opportunity and now it is… becoming more so the land of sort of overregulation, overlitigation, over taxation,” he added that it is p”increasingly difficult to get things done there”

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