London Daily

Focus on the big picture.
Tuesday, Jul 14, 2026

Elon Musk Says He's 'Sold Enough Stock' to Reach 10% Sale Goal, Slams California For 'Overtaxation'

Elon Musk Says He's 'Sold Enough Stock' to Reach 10% Sale Goal, Slams California For 'Overtaxation'

Tesla and SpaceX CEO Elon Musk has been criticised recently over his taxes, as some Democrats demand that his impressive wealth be taxed more. The billionaire has been disputing such demands, claiming on Sunday that he will be paying "over $11 billion" in taxes in 2021.

Elon Musk has said he's sold "enough stocks" to cover his goal of selling 10% of his shares in Tesla Inc., according to an interview with the satirical outlet The Babylon Bee.

"I sold enough stock to get to around 10% plus the option-exercise stuff, and I tried to be extremely literal here", he told the outlet.


His decision to sell the stocks dates back to November when the billionaire took to Twitter to create polls to ask netizens whether he should sell.

Musk exercised 2 million more options and sold nearly 584,000 more Tesla shares Tuesday, having sold some 13.5 million shares over the past month, according to a Securities and Exchange Commission filing. As estimated by Market Watch, it is slightly shy of the 17 million shares that constituted his 10% stake as of early November when he asked Twitter's advice on the 10% sale.

After the said polls, Tesla shares lost about a quarter of their value. Having sold the stock, Musk used 8.06 million of the 13.5 million to pay taxes.

Speaking about taxes, Musk lashed out at the state of California for its taxation requirements, saying that it is now "increasingly difficult to get things done" in the Golden State.

"California used to be the land of opportunity and now it is...becoming more so the land of sort of overregulation, overlitigation, overtaxation", Musk told The Babylon Bee.


On Sunday, the businessman shared with Twitter the sum of the taxes he claimed he will be paying in 2021: "over $11 billion". The statement comes as Musk became the target of criticism by politicians and activists demanding he pay his "fair share" of taxes. The billionaire, however, has actively disputed such demands, even engaging in verbal clashes with top Democrats like Elizabeth Warren.

After the latter called to change the country's "rigged tax code" so that "the Person of the Year" (Musk earlier received the title from Time magazine) pays more taxes, Musk branded her "Senator Karen".

Newsletter

Related Articles

0:00
0:00
Close
Beer Industry Warns UK Rules Could Limit Growth of Alcohol-Free Market
Home Office Faces Legal Challenges Over Asylum Seeker Accommodation Closures
UK Heatwaves Linked to More Than Two Thousand Seven Hundred Deaths as Climate Debate Intensifies
Home Secretary Faces Pressure Over Political Security After Ann Widdecombe Murder Investigation
United Kingdom Opens Trade Consultation With Indonesia, Philippines, United Arab Emirates and Uruguay
Robert Jenrick Joins Reform UK After Leaving Conservative Party Leadership Role
Counter-Terrorism Police Take Over Investigation into Murder of Former MP Ann Widdecombe
Andy Burnham Secures Strong Labour Backing in Race to Succeed Keir Starmer
Global Markets Slide as Middle East Conflict Escalation Sends Oil Prices Higher
UK Prime Minister Keir Starmer Offers Condolences Following Death of Qatar’s Father Amir
UK Regional Innovation Policy Focuses on Research Clusters Across Scotland, Wales, and Northern England
UK Corporate Transparency Rules Set to Become More Strict Under Modern Slavery Reform Plans
UK Civil Service Estate Strategy Shifts Government Activity Away From London
UK Strengthens National Security Powers Through New Threat Designations
Greater Manchester Police Conduct Drink and Drug Driving Operations After Football Events
UK Government Advances Darlington Economic Campus With Construction Milestone
UK Authorities Increase Football-Related Security Operations After Tournament Fixtures
UK Invests Fifty-One Million Pounds in National Cryogenics Facility and Regional Innovation Hubs
UK Moves Toward Tougher Modern Slavery Reporting Rules With Corporate Penalties
UK Government Reports Forty-Three Million Pounds in Savings From Office Estate Reform
UK Government Expands Civil Service Regional Strategy With Manchester and Darlington Campus Projects
UK Designates Iran’s Islamic Revolutionary Guard Corps as National Security Threat
United Kingdom Financial Markets Monitor Business Response to Economic Policy Changes
Scottish Renewable Energy Expansion Highlights Need for Faster Grid Development
Wales and Regions Strengthen Focus on Economic Development Through Tourism and Investment
Retail Industry Warns High Street Businesses Remain Under Pressure
Police Chiefs Highlight Growing Challenges Managing Protests and Public Order
Agriculture Leaders Seek Clarity on Post-Brexit Farming Support and Environmental Rules
Transport Unions Warn of Further Industrial Action Over Pay and Working Conditions
Welsh Tourism Sector Reports Strong Growth Driven by Domestic and International Visitors
National Infrastructure Review Gains Support as Leaders Seek Faster Project Delivery
Financial Markets Assess Impact of United Kingdom Corporate Tax Policy Changes
Northern Ireland Assembly Debates Cross-Border Trade and Infrastructure Cooperation Plans
Government Opens Consultations on Housing Reform and Planning System Changes
Scottish Government Faces Pressure to Accelerate Offshore Wind and Grid Expansion
National Energy System Operator Warns Grid Investment Is Needed for Future Electricity Demand Growth
United Kingdom Research Council Invests in Artificial Intelligence and Biotechnology Innovation Hubs
United Kingdom Expands Oversight of Skilled Worker Visa Sponsors Amid Migration Debate
Cross-Party MPs Call for National Infrastructure Strategy Review to Accelerate Economic Growth
Prime Minister Announces One Billion Pound NHS Funding Package Ahead of Winter Pressures
Bank of England Signals Cautious Approach to Interest Rates as Inflation Remains Above Forecasts
World Cup Visitors Turn American Big-Box Stores Into Souvenir Stops
Netflix Weighs Always-On Channels, Bundles and Short-Form Video
Passenger Is Pulled Partly Outside Ryanair Jet After Window Fails Mid-Flight
Innovation-led growth strategy
Public service reform pressure
Defence and industrial security
Labour leadership transition and economic reset
Northern England Pushes for Greater Influence in Britain’s Future Economic Model
UK Technology Strategy Focuses on Life Sciences, Digital Innovation and Research Investment
×