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Musk allows Twitter to vote on selling Tesla stock

Musk allows Twitter to vote on selling Tesla stock


Tesla founder Musk is letting his fans de facto vote on whether he should pay taxes.
Photo: AFP

Musk made it clear that he did not receive any salaries or cash bonuses. Therefore, selling the shares is the only way for it to become taxable. The Tesla founder wants to stick to the poll’s result.

TEsla founder Elon Musk has allowed his followers to vote on Twitter to sell ten percent of his shares in the US electric car maker. “Recently there has been a lot of talk about unrealized profits as a way to avoid taxes,” the billionaire billionaire wrote Saturday in the online service. “I therefore propose to sell ten percent of my Tesla stock.” Musk promised to abide by the outcome of the vote.

Musk made it clear that he did not receive any salaries or cash bonuses. Therefore, selling the shares is the only way for it to become taxable. His 62 million followers were able to vote yes or no in the Twitter poll. By midnight, about 53 percent voted yes.

Democrats want to tax the super-rich

The author of the project appears to be aiming for a proposal from the US Democrats for tax reform. You want to tax the super-rich in the United States more and look at their securities. So far, taxes are due in the US only on the sale of shares.

According to Bloomberg, Musk owned about 17 percent of Tesla’s stock, worth more than $208 billion at the end of June. With an estimated fortune of $338 billion, the Tesla founder is the richest man in the world, according to Bloomberg.

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