When asked if he sold because of the Twitter poll, he stated on Tuesday that “no matter what,” he needed to exercise stock options that expire next year. He went on to say that he sold more “incremental stock” to reach close to 10%.
According to Tesla’s securities filings, 9.34 million of the 14.77 million shares sold were sold to pay taxes connected to the exercising of his option.
In a Tuesday interview, Musk, who moved the company’s headquarters from California to Texas earlier this month, also chastised 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.
He said on Sunday that he will pay more than $11 billion in taxes this year. He has stated that his personal tax rate exceeds 50%, which includes both federal and state income taxes. Last year, Musk said that he had migrated from California to Texas, where he is exempt from state income taxes.
Musk also said that the “metaverse,” which refers to shared virtual environments, is uninteresting, and that wearing goggles while playing video games 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.”