Elon Musk begins a Twitter ballot to ask about his Tesla shares. What he’s saying


Tesla Inc Chief Government Elon Musk on Saturday requested his 62.5 million followers on Twitter in a ballot if he ought to promote 10% of his Tesla inventory.

“A lot is made currently of unrealized positive factors being a way of tax avoidance, so I suggest promoting 10% of my Tesla inventory,” Musk wrote in a tweet referring to a “billionaires’ tax” proposed by Democrats within the U.S. Senate.

“Be aware, I don’t take a money wage or bonus from anyplace. I solely have inventory, thus the one method for me to pay taxes personally is to promote inventory,” Musk stated on Twitter.

 

Musk tweeted that he’ll abide by the outcomes of the ballot, whichever method it goes.

The ballot obtained over 16 lakh responses in 5 hours since he posted it, with 54% of respondents approving the proposal to promote the shares. 

Musk’s shareholding in Tesla involves about 170.5 million shares as of June 30 and promoting 10% of his inventory would quantity near $21 billion based mostly on Friday’s closing, in line with Reuters calculations.

The feedback from Musk comes after the proposal within the U.S. congress to tax billionaires’ belongings to assist pay for President Joe Biden’s social and climate-change agenda.

Musk is at present the world’s richest particular person and proprietor of a number of futuristic firms, together with SpaceX and Neuralink. He has beforehand criticized the billionaires’ tax on Twitter.

His tweet raised some eyebrows on this planet of finance.

“We’re witnessing the Twitter lots deciding the result of a $25B coin flip,” Enterprise investor Chamath Palihapitiya wrote on Twitter in response to Musk’s tweet.

“Trying ahead to the day when the richest particular person on this planet paying some tax doesn’t depend upon a Twitter ballot,” Berkeley economist Gabriel Zucman tweeted.

Tesla shares not too long ago hit report excessive after it obtained its biggest-ever order of 100,000 electrical rental vehicles from Hertz.

 

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