Musk Asks Twitter if He Should Sell 10% of His Tesla Stock 

Tesla boss Elon Musk asked his 62.5 million followers on Twitter on Saturday whether he should sell 10% of his Tesla shares.

“A lot has been done lately that unrealized gains are a means of tax avoidance, so I suggest selling 10% of my Tesla stock,” Musk wrote in a tweet, referring to one suggested by Senate Democrats “Billionaire Tax”.

Musk tweeted that he would stick to the survey results.

The poll received more than 700,000 responses within an hour of its publication, with nearly 56% of respondents approving the proposal to sell the shares.

Musk’s stake in Tesla is approximately 170.5 million shares as of June 30, and the sale of 10% of his shares would amount to approximately $ 21 billion when it closes on Friday, according to Reuters calculations.

Analysts say he may have to surrender a significant number of shares to pay taxes anyway, as a large number of options expire over the next year.

Musk’s comment comes after a proposal in the US Congress to tax billionaires’ fortunes to pay for President Joe Biden’s social and climate agenda.

Musk is one of the richest people in the world and the owner of several futuristic companies, including SpaceX and Neuralink. He had previously criticized the billionaire tax on Twitter.

“Note that I don’t get any cash or bonus anywhere. I only have stocks, so the only way to pay taxes in person is by selling stocks,” Musk said on Twitter.

Tesla board members, including Elon Musk’s mother, Kimbal, recently sold shares in the electric car maker. Kimbal Musk sold 88,500 Tesla shares, while fellow board member Ira Ehrenpreis sold more than $ 200 million worth of shares.

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