When the 10b preprogrammed sales complete. There are still a few tranches left, but almost done. – Elon Musk

When the 10b preprogrammed sales completely. There are still a few tranches left, but almost done. Elon Musk tweeted in response to a Twitter user who said Tesla CEO Elon Musk Says He’s Hit Prior Set Target of Selling Around 10% of His TSLA Shares.

When the 10b preprogrammed sales complete. There are still a few tranches left, but almost done.

— Elon Musk (@elonmusk) December 22, 2021

Elon Musk, the CEO of Tesla, announced that he had met his goal of selling about 10% of his company’s stock. He needed to raise money to pay for the tax responsibilities linked with the expiration of the options, so he sold them. Musk paid $11 billion in taxes in 2021 alone, making him the first person in US history to pay such a large sum of money in taxes.

Elon Musk has been the object of criticism since he began selling Tesla shares six weeks ago, with the sole purpose of distorting facts and casting the company’s CEO in a poor light. Even politicians in the United States have taken advantage of the popularity of Musk to criticise him.

Senator Elizabeth Warren, whose taxes and salary are paid by taxpayers, took advantage of this by organising a Facebook ad campaign to raise $10 per person for her personal use.

Musk recently answered numerous questions about his stock sale in an interview with The Babylon Bee. He explained that he does not have any offshore accounts and does not employ any tax evasion schemes. He was simply compelled to sell a portion of his shares to pay taxes because he does not receive a salary at Tesla or SpaceX and all of his funds are invested in these firms’ shares.

Musk stated that he had a number of options for paying the tax. One of his alternatives was to sell 10% of his Tesla stock, which he suggested on Twitter. Because the majority of the employees voted in support of this choice, the company’s president did precisely that.

Musk has sold the required amount of shares to date, claiming that he “sold enough” to meet his 10% target. In an interview with The Babylon Bee, he remarked, “I sold enough shares to get to roughly 10% plus the option-exercise things, and I tried to be quite exact here.” Musk, on the other hand, will stop selling after his 10b plan is fully implemented, which will need the sale of two more blocks of shares.