6/9, 8:25 PM (Source: TeleTrader)
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Musk: I only sell Tesla stock when I have no choice

Elon Musk, the chief executive officer of Tesla Motors tweeted on Wednesday saying that the only time he sells his own Tesla stock is when his stock options are expiring and he has no choice.

The billionaire and founder of Tesla also said that although he resides in Texas, he will continue to pay income taxes in the state of California proportionate to the time he spends there on business, "which is & will be significant." Tesla's headquarters remains in Palo Alto, California.

The tweet came as a reply to a subscriber's Twitter post, where the user claimed that if the "tax the wealthy" legislature passes, Musk would be forced to sell a large amount of Tesla stocks, which would subsequently hurt retail traders. Musk agreed with the statement by replying "Exactly."

Breaking the News / LH