Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), said he has already sold \u00ab\u00a0enough shares\u00a0\u00bb to achieve his plan to divest 10% of his stake<\/b>
\nElon Musk, CEO of Tesla Inc (NASDAQ:TSLA), said he has already sold \u201cenough shares\u201d to achieve his plan to divest 10% of his stake at the most valuable automotive company in the world. The billionaire also claimed he will have to pay a record $11 billion tax bill. Q3 2021 hedge fund letters, conferences and more As reported by Fox Business, Elon Musk sold a further 583,611 shares on Tuesday, taking the total count to 13.5 million \u2014which accounts for 80% of the total he plans to shed. Out of the total so far,8.06 million were sold to pay taxes in relation to the exercise of his options. The sequence of moves was entangled with a Twitter poll the automotive mogul started in November, asking his followers whether selling 10% of his Tesla stake was a good idea \u2014more than half agreed. Fox Business also reports that \u201cTesla shares, which had hovered near record-highs, lost about a quarter of their value after Musk said on Nov.6 he would sell 10% of his stake if Twitter users agreed.\u201d Musk said, \u201cI sold enough stock to get to around 10% plus the option exercise stuff and I tried to be extremely literal here.\u201d Elon Musk took to Twitter on Sunday and said he is facing an $11 billion tax bill before the end of this year and added he would end up paying more taxes than any American in history. The tweet was in response to another tweet from Sen. Elizabeth Warren from Massachusetts, who used the \u201c Person of the Year \u201d award that TIME Magazine gave Musk to call on him to pay his taxes. Musk also took aim at the state of California for its \u201cexcessive\u201d tax policies, after the billionaire moved the Tesla headquarters to Texas this month. \u201cCalifornia used to be the land of opportunity and now\u2026 it’s becoming more like the land of a kind of overregulation, over-litigation, super-taxation\u2026 it\u2019s getting harder and harder to get things done.\u201d Tesla is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families. Updated on Dec 22,2021,9:53 am<\/p>\n