The former president lashes out at his political opponents, calling them the 'enemy within'
Tesla Inc Chief Executive Elon Musk said on Wednesday he was "almost done" with his stock sales after selling over $14 billion worth for more than one month.
The billionaire had made confusing statements as to whether he might or might not be done with his stated goal of selling 10 per cent of his Tesla shares.
"I sold enough stock to get to around 10 per cent plus the option exercise stuff and I tried to be extremely literal here," he said in an interview on Tuesday with conservative satirical website Babylon Bee.
But on Wednesday he suggested he might not be done. "This assumes completion of the 10b sale," he tweeted, referring to his prearranged sales plan related to his options.
"There are still a few tranches left, but almost done," he tweeted later.
Under the Rule 10b5-1 trading plan set up in September, he has exercised stock options that expire next year and sold a portion of the stocks to pay taxes, according to Tesla filings.
Following a flurry of sales, Musk still has more than 3 million stock options that expire in August next year.
Tesla shares ended 7.5 per cent higher at $1,008.87, valuing the company at just over $1 trillion.
"OVERTAXATION"
Musk said on November 6 he would sell 10 per cent of his stake if Twitter users agreed. Tesla shares, which had hovered near record highs, lost about a quarter of their value soon after.
On Tuesday, Musk sold another 934,091 shares, bringing the total he has offloaded to 13.8 million - shy of the 17 million or so shares he had been expected to sell.
Asked whether he sold because of the Twitter poll, he said on Tuesday he needed to exercise stock options that expire next year "no matter what." He added he sold additional "incremental stock" to get near 10%.
Of the 13.8 million shares sold, 8.4 million were sold to pay taxes related to his options exercise, according to Tesla's securities filings.
Musk, who moved the company's headquarters from California to Texas earlier this month, in Tuesday's interview also criticized California for "overtaxation" and "overregulation."
"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 it was "increasingly difficult to get things done" in California.
On Sunday, he said he would pay more than $11 billion in taxes this year. He has said his personal tax rate tops 50 per cent, which would include federal and state income taxes. Musk said last year he had relocated from California to Texas where he faces no income tax.
ALSO READ:
Musk also said the "metaverse," which describes shared virtual environments, is not compelling, adding that playing video games with goggles can cause motion sickness. "Sure, you can put a TV on your nose."
"I think we're far from disappearing into the metaverse. This sounds just kind of buzzword-y."
The former president lashes out at his political opponents, calling them the 'enemy within'
The rescue team stabilised the patient before initiating the evacuation process
Cardinals rank second only to the pope in the Church hierarchy and serve as his closest advisers
Norwegian doctor Gilbert, who had treated patients during the 1982 Israeli invasion of Beirut and later in Palestinian territories, speaks about his new mission
The Zadna Rating app will provide information about food establishments across 9,000 venues in the capital city
Competing at Japan's prestigious Taiheiyo Club in the Asia-Pacific Amateur Championship (AAC) has ignited the 17-year-old's determination for a breakthrough year ahead
Wait times can vary significantly based on the applicant's passport and the country from which they are applying
Lebanese Prime Minister Najib Mikati appealed to the international community to put pressure on Israel for a ceasefire