INSUBCONTINENT EXCLUSIVE:
Elon Musk had said that he would pay more than $11 billion in taxes this year.San Francisco: Tesla CEO Elon Musk said he had sold "enough
stock" to reach his plan to sell 10% of his shares in the world's most valuable car company, according to an interview released on
Tuesday.The billionaire, who moved the company's headquarters from California to Texas this month after his personal move last year, also
slammed California for "overtaxation."Tesla shares, which had hovered near record-highs, lost about a quarter of their value after Musk said
on November 6 he would sell 10% of his stake if Twitter users agreed.On Tuesday, Musk sold another 583,611 shares, bringing the total number
of shares he has offloaded to 13.5 million - about 80% of what he had planned to sell."I sold enough stock to get to around 10% plus the
option exercise stuff and I tried to be extremely literal here," he said in the interview with satirical website Babylon Bee.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 exercise.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, overtaxation," he said, adding that it is "increasingly difficult to
get things done" in California.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
