According to an interview released on Tuesday, Tesla CEO Elon Musk stated he has sold “enough stock” to meet his goal of selling 10% of his shares in the world’s most valuable car firm.
Following his personal departure to Texas last year, the billionaire lambasted California for “over-taxation.”
Tesla shares, which had been hovering near record highs, dropped roughly a quarter of their value after Musk indicated on Nov. 6 that if Twitter users agreed, he would sell 10% of his ownership.
Musk sold another 583,611 shares on Tuesday, bringing his total number of shares sold to 13.5 million, or nearly 80% of what he had planned to sell.
In an interview with the satirical website Babylon Bee, he remarked, “I sold enough shares to get to roughly 10% plus the option exercise stuff and I tried to be quite specific here.”
When asked whether he sold the stock because of the Twitter poll, he said he needed to exercise stock options that are expiring next year “no matter what.” He also added that he sold an additional “incremental stock” to get near 10%.
Out of the 13.5 million shares sold, 8.06 million were sold to pay taxes related to his options exercised.
Musk said on Sunday on Twitter that he would pay more than $11 billion in taxes 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 said, adding that it is “increasingly difficult to get things done” in California.
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