The world's richest person had previously said he could face a"massive" tax bill this year as he has to exercise a large number of stock options coming due next year.
"Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock," he said, referring to a"billionaires' tax" proposed by Democrats. Musk's shareholding in Tesla comes to about 170.5 million shares as of June 30 and selling 10% of his stock would amount close to $21 billion based on Friday's closing, according to Reuters calculations.Musk has an option to buy 22.86 million shares at $6.24 each, which expires on Aug. 13 next year, according to a Tesla filing. Tesla's closing price was $1,222.09 on Friday.
Some Tesla board members, including his brother Kimbal Musk, offloaded large numbers of shares after Tesla stock hit a record high late October.
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