In the first half of November, Musk sold Tesla shares for almost $10 billion. At the time of the sale, Elon owned about 170.5 million shares of Tesla, and 10% of the shares were valued at about $21 billion. The decision came after Oregon sen. Ron Wyden proposed a new tax that would affect wealthy people, the so-called "billionaires tax." Wyden wants to oblige the richest people to pay 23.8% of the so-called unrealized income. Elon Musk is against such a bill.
This tax will affect the 700 wealthiest people in the United States. But critics say the stock price may rise or fall, so the tax cannot be permanent or unconditional.
On November 11, 2021, after a Twitter poll, Musk sold Tesla securities for $5 billion.
