Elon Musk, Tesla CEO says He Sold “Enough Stock” Slams California for ‘Overtaxation’

Tesla slammed California for its decision to increase the taxation and he said that he sold “Enough Stock”.

As per the interview that has been released on Tuesday, Tesla CEO Musk said that he had sold enough stocks to reach the apex of his plan. The plan was to sell 10% of his shares in the world’s most valuable car company.

Highlighted points

• Tesla sold the 583,611 shares revealed by the Tesla CEO, Elon Musk.
• Further 8.06 million stocks were sold on the same day to pay taxes of the exercise of the options.
• In the total calculation, Tesla has lost about a quarter share of their value.

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Recently Elon Musk transferred his company headquarters from California to Texas and he slammed California for over-taxation. The decision to change his headquarters was personal.

Musk said on 6 November that he would sell 10% of his stake on the condition of the agreed twitter users and the share price of Tesla was moving around the total highest during the sale.

A total number of 583,611 shares were sold on Tuesday, he has offloaded a total number of shares to 13.5 million which is about 80% of what he had already planned to sell.

The website Babylon Bee was interviewing the Tesla CEO and he told: “I sold enough stocks to get around 10% plus the option exercise stuff and I tried to be extremely literal here”.

During the interview, he was asked if it is true? That he has sold the shares due to the poll which was conducted on Twitter. In the counter-response Musk said there was a need to exercise the stocks because there were a; lot of stocks that were expiring the next year and he added that “no matter what” but, he sold additional “incremental stocks” to gain the aimed 10%.

From the total shares sell 13.5 million, about 8.06 million were sold to pay taxes related to the options exercises.

He has also said on Sunday that he would pay $11 billion more in taxes in the present year.

He added “California used to be the land of opportunity and now it is….becoming more so the land of sort of overregulation, overlitigation, over-taxation” including this he also added that it “Increasingly difficult to get things done” in California.

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