Teslas Musk Says He Bought "Sufficient Inventory"; criticizes California for "over-taxation"

© Reuters. FILE PHOTO: Elon Musk, Tesla Chief Executive Office, speaks at his company's Fremont, Calif. Factory on June 22, 2012 as the automaker began shipping its Model S electric sedan. REUTERS / Noah Berger / File Photo

From Hyunjoo Jin

San Francisco (Reuters) – Elon Musk, CEO of Tesla (NASDAQ :), said he sold "enough shares" to accomplish his plan to sell 10% of his shares in the world's most valuable auto company, according to a Tuesday released Interview.

The billionaire, who relocated the company's headquarters from California to Texas this month after moving personally last year, also accused California of "over-taxation."

Tesla shares, which were near record highs, lost about a quarter of their value after Musk announced on Nov. 6 that it would sell 10% of its stake if Twitter (NYSE 🙂 users agree.

On Tuesday, Musk sold an additional 583,611 shares, giving up a total of 13.5 million shares – about 80% of what he intended to sell.

"I sold enough shares to get around 10% plus the option exercise and I tried to be extremely literal here," he said in an interview with the satirical website Babylon Bee.

When asked if he had sold the stock based on the Twitter poll, he said he would have to exercise "no matter what" stock options that expire next year. He also added that he sold an additional "incremental stock" to hit nearly 10%.

Of the 13.5 million shares sold, 8.06 million were sold to pay taxes in connection with exercising his option.

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

"California used to be the land of opportunity and now it's becoming even more of a land of over-regulation, excessive demands and over-taxation," he said, adding that California is "getting things harder and harder."

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