Elon Musk Asks His Followers If He Should Sell His 10% Tesla Stocks, Says Will Follow Poll Result
Billionaire Elon Musk took to Twitter to ask his 62.5 million followers whether he should sell 10 per cent of his Tesla stock. Known for his notorious tweets, this one did not come as a shock.
Billionaire Elon Musk took to Twitter to ask his 62.5 million followers whether he should sell 10 per cent of his Tesla stock. Known for his notorious tweets, this one did not come as a shock.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
¡ª Elon Musk (@elonmusk) November 6, 2021
Do you support this?
According to a Reuters report, Musk has previously said that he could face a "massive" tax bill this year as he has to exercise a large number of stock options coming due next year.
"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," Musk said on Twitter on Saturday.
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.
¡ª Elon Musk (@elonmusk) November 6, 2021
"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.
The Tesla CEO has criticized the proposal, which would affect 700 billionaires and impose taxes for long-term capital gains on tradable assets, whether or not they have been sold.
He said he will follow the results of the poll.
I will abide by the results of this poll, whichever way it goes
¡ª Elon Musk (@elonmusk) November 6, 2021
The poll received near 2 million responses in seven hours after he posted it, with 55 per cent of respondents approving the proposal to sell the shares.
The poll is scheduled to end around 3 pm ET (2000 GMT) on Sunday.
People took to the comments section of the post to express their opinion.
This Twitter Poll decides the fate of $20,000,000,000+ of Tesla stock lol
¡ª MrBeast (@MrBeast) November 6, 2021
Instead of abiding to surrender your stocks to pay taxes. To "leaders" that have no idea how to spend a budget that favors the public. Maybe just donate 10% of your stock to schools, and fire departments, after school programs. Museums, cleaning the ocean. So much you could do.
¡ª Matthew saltz (@MatthewSaltz) November 7, 2021
Hey @elonmusk what will you do with the money? Fix the world hunger? https://t.co/YFG0GzhEI3
¡ª Nico Zahner (@ZahnerNico) November 7, 2021
Elon is playing Squid Game ? #ElonMusk #SquidGame https://t.co/J5sO534l5e
¡ª Louis Kal (@LouiKal1) November 7, 2021
I mean if you want to just give me a couple of shares @elonmusk, you wouldn't hear me complaining ??? https://t.co/6tCa2g3IBl
¡ª Jon Barron (@_JonBarron_) November 7, 2021
Among other things I think maybe we should question the decision-making of a dude who wagers $20 billion on a twitter poll https://t.co/6kodW31lio
¡ª Ken Tremendous (@KenTremendous) November 7, 2021
Love him or hate him he¡¯s the world¡¯s best troll. And second place isn¡¯t particularly close. https://t.co/bOVso1rCB2
¡ª Clifford Asness (@CliffordAsness) November 6, 2021
Musk's shareholding in Tesla comes to about 170.5 million shares and selling 10 per cent of his stock would amount to close to $21 billion.
What do you think about this? Let us know in the comments.
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