Musk Expected to Sell 10% of His Tesla Shares, According to Twitter Users

Musk Expected to Sell 10% of His Tesla Shares, According to Twitter Users

Tesla Inc CEO Elon Musk is expected to sell around 10% of his Tesla shares, according to 57.9% of people who voted on his Twitter poll asking users of the social media network if he should offload participation .
The richest person in the world tweeted on Saturday that he would get rid of 10% of his shares if users approved the proposal in a poll.

The poll garnered over 3.5 million votes.

“There has been a lot of talk lately of unrealized gains being a means of tax evasion, so I am proposing to sell 10% of my Tesla shares,” Musk said in an article on Saturday, adding that he was not taking any shares. pay in cash or bonus “from anywhere”. and only has stock.

Democrats in the US Senate have unveiled a proposal to tax billionaires’ shares and other marketable assets to help fund President Joe Biden’s social spending program and fill a loophole that has allowed them to defer earnings tax indefinitely in capital.

Musk criticized the proposal, saying, “Finally they don’t have any more money for the others, then they come and get you. Much of his fortune is held in shares of Tesla, which does not pay him a salary in cash.

“I only have stocks, so the only way I can personally pay taxes is to sell stocks,” he tweeted.

As of June 30, Musk’s stake in Tesla stood at around 170.5 million shares and the 10% sale would be nearly $ 21 billion based on Friday’s close, according to Reuters calculations.

The richest person in the world had said he would comply with the poll results.


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