Arab Press

بالشعب و للشعب
Friday, Feb 20, 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

Arab Press
0:00
0:00
Close
Concerns Mount Over Potential Saudi Uranium Enrichment in Prospective US Nuclear Accord
Investability Emerges as the Defining Test of Saudi Arabia’s Next Market Phase
Saudi Arabia’s Packaging Market Accelerates as Sustainability and E-Commerce Drive Transformation
Saudi Arabia Unveils $32 Billion Push Into Theme Parks and Global Entertainment
Saudi Crude Exports to India Climb Sharply, Closing Gap With Russia
Saudi Arabia’s Halal Cosmetics Market Expands as Faith and Ethical Beauty Drive Growth
ImmunityBio Secures Saudi Partnerships to Launch Flagship Cancer Therapy
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
Türkiye and Saudi Arabia Launch Expanded Renewable Energy Partnership
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Mongolian Mining Family’s HK$247 Million Stanley Home Purchase Highlights Resilient Luxury Market
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Saudi Arabia Tops Middle East Green Building Rankings with Record Growth in 2025
Qatar and Saudi Arabia Each Commit One Billion Dollars to President Trump’s ‘Board of Peace’ Initiative
Ramadan 2026 Prayer Times Set as Fasting Begins in Saudi Arabia and Egypt Announces Dates
Saudi Arabia Launches Ramadan 2026 Hotel Campaign to Boost Religious and Leisure Tourism
Saudi Arabia Seeks Reroute of Greece-Bound Fibre-Optic Cable Through Syria Instead of Israel
Saudi-Backed Scopely Acquires Majority Stake in Turkey’s Loom Games to Expand Mobile Portfolio
Zodiac Milpro Launches Zid Marine Joint Venture in Saudi Arabia to Expand Regional Shipbuilding
Saudi Arabia Reaffirms Reform Path Amid Claims of Ideological Reversal
Calls Grow for Saudi Arabia and UAE to Settle Differences Through Direct Dialogue
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
British couple sentenced to 10 years in Iran for espionage
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
Prince William Holds Talks with Crown Prince Mohammed bin Salman During Saudi Visit
Saudi Arabia’s Humain Commits $3 Billion Investment to Elon Musk’s xAI
SCOPA Executive Unveils Ambitious Relaunch Strategy for Saudi Production Company
Saudi Arabia Sees Rise in Business Visa Rejections Amid Tighter Compliance Checks
Saudi PIF Transfers Take-Two Stake to Savvy Games Group in Strategic Gaming Push
Jimmy Carr Says He ‘Loved’ Saudi Arabia Show Amid Debate Over Performing in the Kingdom
Sotheby’s ‘Origins II’ Auction Signals Saudi Collectors’ Shift Toward Cultural Legacy
EY and Microsoft Deepen Saudi Arabia Partnership with Launch of EY Studio+
Google Pay Launches Support for Mastercard Cards in Saudi Arabia
Saudi Arabia Bolsters Maritime Surveillance Fleet with Four C-27J Patrol Aircraft
Kazakhstan and Saudi Arabia Deepen Strategic Partnership with New Investment and Energy Agreements
Saudi Crown Prince Receives Written Message from Kazakhstan’s President Amid Expanding Strategic Ties
ImmunityBio Shares Rise After Saudi Arabia BCG Manufacturing Update Spurs Investor Optimism
Global Music Star Tyla Confirmed as Headliner at 2026 Saudi Arabian Grand Prix Entertainment Lineup
Somalia and Saudi Arabia Forge New Military Partnership Amid Regional Power Shifts
Saudi Arabia and Several Nations Criticize Israeli West Bank Land Measures as Diplomatic Tensions Rise
Saudi Public Investment Fund Transfers Stake in Take-Two Interactive as Portfolio Strategy Evolves
Saudi Arabia’s Flagship Defense Expo Highlights Industrial Ambitions and Expanding Arms Portfolio
Strategic Divergence Deepens as Saudi Arabia and UAE Recalibrate Gulf Partnership
Saudi Arabia Confirms Start of Ramadan as Crescent Moon Sighted, While Other Nations Begin a Day Later
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Prince William Meets Saudi Crown Prince as Epstein-Andrew Fallout Casts Shadow
Goldman Sachs and DP World Executive Resignations: Elite-Reputation Risk and Corporate Governance Fallout From the Epstein Disclosures
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
×