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Elon Musk Says He Has Sold ‘Enough’ of Tesla Stock

San Francisco – Tesla CEO Elon Musk said he sold “enough stock” to hit a plan to sell his 10% stake in the world’s most valuable car company, according to an interview published Tuesday.

The billionaire, who moved the company’s headquarters from California to Texas this month after moving personally last year, also criticized California for “collective abuse.”

Tesla stock, which has hovered near record highs, lost about a quarter of its value after Musk said on November 6 that he would sell 10% of his shares if Twitter users agreed.

On Tuesday, Musk sold 583,611 more shares, bringing the total number of shares he sold off to 13.5 million — about 80% of what he planned to sell.

“I’ve sold enough stock to get about 10% plus the tools and I’ve tried to take it literally here,” he said in an interview with the satirical website. Babylon bee.

When asked if he’s selling stock because of the Twitter poll, he said he needs to exercise stock options that expire next year “no matter what.” He also added that he sold one more “incremental stock” to get close to 10%.

Of the 13.5 million shares sold, 8.06 million were sold to pay taxes related to the exercise of his option.

On Sunday, Musk said on Twitter that he will pay more than $11 billion in taxes this year.

“California used to be a land of opportunity and now… increasingly becomes a land of these kinds of over-managed, over-managed, over-managed things,” he said, adding that California “is increasingly difficult to accomplish. successful work”.

(Reported by Hyunjoo Jin. Editing by Gerry Doyle)

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