Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Elon Musk Says He's 'Sold Enough Stock' to Reach 10% Sale Goal, Slams California For 'Overtaxation'

Elon Musk Says He's 'Sold Enough Stock' to Reach 10% Sale Goal, Slams California For 'Overtaxation'

Tesla and SpaceX CEO Elon Musk has been criticised recently over his taxes, as some Democrats demand that his impressive wealth be taxed more. The billionaire has been disputing such demands, claiming on Sunday that he will be paying "over $11 billion" in taxes in 2021.

Elon Musk has said he's sold "enough stocks" to cover his goal of selling 10% of his shares in Tesla Inc., according to an interview with the satirical outlet The Babylon Bee.

"I sold enough stock to get to around 10% plus the option-exercise stuff, and I tried to be extremely literal here", he told the outlet.


His decision to sell the stocks dates back to November when the billionaire took to Twitter to create polls to ask netizens whether he should sell.

Musk exercised 2 million more options and sold nearly 584,000 more Tesla shares Tuesday, having sold some 13.5 million shares over the past month, according to a Securities and Exchange Commission filing. As estimated by Market Watch, it is slightly shy of the 17 million shares that constituted his 10% stake as of early November when he asked Twitter's advice on the 10% sale.

After the said polls, Tesla shares lost about a quarter of their value. Having sold the stock, Musk used 8.06 million of the 13.5 million to pay taxes.

Speaking about taxes, Musk lashed out at the state of California for its taxation requirements, saying that it is now "increasingly difficult to get things done" in the Golden State.

"California used to be the land of opportunity and now it is...becoming more so the land of sort of overregulation, overlitigation, overtaxation", Musk told The Babylon Bee.


On Sunday, the businessman shared with Twitter the sum of the taxes he claimed he will be paying in 2021: "over $11 billion". The statement comes as Musk became the target of criticism by politicians and activists demanding he pay his "fair share" of taxes. The billionaire, however, has actively disputed such demands, even engaging in verbal clashes with top Democrats like Elizabeth Warren.

After the latter called to change the country's "rigged tax code" so that "the Person of the Year" (Musk earlier received the title from Time magazine) pays more taxes, Musk branded her "Senator Karen".

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
×