World Billionaire, Elon Musk polled his more than 62 million Twitter followers Saturday about whether he should sell 10 percent of his Tesla stock, insisting he would do as voters say.
The over-the-top electric car maker’s query follows a proposal by Congressional Democrats to tax the super-wealthy more heavily by targeting stocks, which are usually only taxed when sold.
Musk wrote, asking 62.6 million followers a “yes” or “no” to his question;
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,”
He further wrote;
“I will abide by the results of this poll, whichever way it goes.”
Meaning he would do whatever his followers vote for pertaining to the question. Around 7:00 pm (2300 GMT), nearly 53 percent had voted in favor of selling.
Musk owned about 17 percent of Tesla’s outstanding shares as of June 30, currently worth $208.37 billion, according to Bloomberg. The entrepreneur was also awarded a large package of stock options and convertible shares as compensation.
Taking into account his stakes in his other companies such as neurotechnology firm Neuralink and especially SpaceX, Musk is in theory the richest man in the world, with an estimated fortune of some $338 billion, according to Bloomberg.
Musk also tweeted;
“Note, I do not take a cash salary or bonus from anywhere, I only have stock, thus the only way for me to pay taxes personally is to sell stock.”
See his tweet;
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
Elon Reeve Musk is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. A centibillionaire, Musk is the richest person in the world as of November 2021 with a net worth of over US$320 billion.
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