26.8 C
New York
Monday, May 23, 2022

Elon Musk Polls His Twitter Followers To Ask If He Should Sell 10 Percent Of His Tesla Stock

Tesla CEO and the world’s richest person, Elon Musk, tweeted a poll on Saturday, asking his Twitter followers whether he should sell 10 percent of his shares in the automaker, ostensibly to pay more taxes.

“There has been a lot of talk lately that unrealized gains are a means of tax avoidance, which is why I propose to sell 10% of my Tesla stock,” tweeted. He said in a later tweet that he would stick to the survey results “anyway.” By Sunday morning, “yes” answers led the way, with 57 percent of more than 3.1 million votes.

Musk had been a vocal critic of a proposal to tax unrealized gains in publicly traded assets for some of the wealthiest Americans. Under the proposal By Senator Ron Wyden (D-Oregon), if the assets were to increase in value, even if the person did not sell the assets, the person would have to pay taxes on the unrealized gain. Basically, it would end the tax loophole that allows billionaires to defer taxes on capital gains indefinitely, while still being able to borrow against that wealth.

“Eventually, they run out of other people’s money and then they come for you,” Musk tweeted in october, in response to a tweet expressing concerns about the proposal.

Wyden responded to Musk’s idea, tweeting Saturday: “Whether or not the richest man in the world pays taxes shouldn’t depend on the results of a Twitter poll, it’s time for billionaires’ income tax.”

Saturday was also not the first time Musk has raised the idea of ​​selling some Tesla stock. Musk told reporter Kara Swisher at Code Conference In September he planned to sell a large chunk of his Tesla stock options before they expired. “I have a lot of [stock] options that expire early next year, so this is a big block of options that we will sell in the fourth quarter, ”he said.

Swisher asked if he was surprised at how much Tesla shares had risen. “I have put on record and said that I believe [Tesla’s] The stock price is too high, in my opinion, ”Musk added later. “What am I supposed to do? I’m not the one making it go up.”

ProPublica journalist Jesse Eisinger noted on Twitter than the third tweet in Musk’s Saturday thread – “Please note, I do not accept a cash salary or bonuses from anywhere. I only own shares, so the only way to pay the taxes personally is to sell shares, ”the news site’s reports on how it seemed to confirm. the ultra-rich avoid paying income taxes.

“Thank you for confirming our story: that for the ultra-rich, income taxes are essentially voluntary,” Eisinger tweeted, noting that Musk had previously called the story “misleading.”

Musk’s Twitter poll had a few hours left on Sunday. We will update this post if you make any further comments.

Monitors sale
The Sale will be end with in 24 hours

Related Articles

Some Halo Infinite players have to use Xbox Dev Kits in the first major tournament

Apparently, Microsoft is having as much trouble acquiring Xbox consoles as everyone else, as some of the players in the first big...

Let’s install Google Toolbar, the project that is almost 21 years old

I was lost and searching for myself after hearing the devastating news about Ars Technica: The search giant dropped the Google bar...

Apple Releases iOS 15.2 with App Privacy Report, Digital Legacy, and More

Apple's iOS 15.2, which includes a ton of features and fixes, has started rolling out to iPhones after an extensive beta period....
Sale Best Smart Watches Under 30

Stay Connected

0FansLike
3,321FollowersFollow
0SubscribersSubscribe

Latest Articles

Some Halo Infinite players have to use Xbox Dev Kits in the first major tournament

Apparently, Microsoft is having as much trouble acquiring Xbox consoles as everyone else, as some of the players in the first big...

Let’s install Google Toolbar, the project that is almost 21 years old

I was lost and searching for myself after hearing the devastating news about Ars Technica: The search giant dropped the Google bar...

Apple Releases iOS 15.2 with App Privacy Report, Digital Legacy, and More

Apple's iOS 15.2, which includes a ton of features and fixes, has started rolling out to iPhones after an extensive beta period....

Meta adds Quest 2, Portal and Ray-Ban Stories to its bug bounty program

Facebook's parent company Meta is updating its bug bounty program to add hardware products from its metaverse division Reality Labs, including its...

Intel to list autonomous company Mobileye in 2022

Intel announced that it will go public with its autonomous driving technology company Mobileye, the Israeli company it acquired for $ 15.3...