Elon Musk proposes to sell 10% of his Tesla stock to show he isn’t avoiding taxes

Elon Musk proposes to sell 10% of his Tesla stock to show he isn't avoiding taxes

He offers to sell 10% of his shares, which have performed well recently, at the request of the voters. The reason he gave was the heavily discussed tax avoidance of the last weeks. The first survey results support his proposal and he agrees to stick to the pool result in any case.

Musk announced the vote after a proposal to tax the wealth of billionaires in the US Congress to help fund President Joe Biden’s social and climate programs. In earlier posts, the Tesla CEO has criticised the billionaire tax.

Elon also pointed out on Twitter today that he receives no salary or bonus from anywhere. He only have stock, thus the only way for him to pay taxes personally is to sell stock.

What would happen then with all the cash from the sale of Tesla shares? It is supposed to be about 21 billion before taxes. As some speculate, Elon might be interested in diversifying his wealth and investing it in Bitcoin, for example. Others say he might actually solve the world hunger problem now. Still others give him tips, for example, to build schools or expand infrastructure on Earth. How would you vote?

Sources: Reuters, Twitter

6 comments

  1. Handing people money they do not have to work for often does not help in the long run and can actually do a lot of damage. I think the money should go towards education. Education most directly affects happiness according to most statistical analysis on happiness. The spending should be focused on helping people learn more about computer science, cryptocurrency, the buisness arts as well as the traditional arts (music, visual art and poetry). I’m an artist who has a deep respect for engineers, although it is not my specialty and I am currently in the process of going back to school to learn more about computer science. I would love to have the opportunity to learn more from the masters as well as have the opportunityto share my skills as well. I think arts education could benefit engineers greatly by giving them more insights on how to make thier creations more relatable to people and understanding thier own emotions. Arts education is vital and often overlooked. Funding for art is often neglected, especially during times of economic hardship. The pandemic has greatly affected the arts. Art also makes people happy. Creating art is very difficult and requires a lot of the same focus and determination as engineering to create something astounding. Art and engineering are very similar. The greatest artist Leonardo DaVinci was an artist and engineer. Engineers need to have more opportunities to engage in educating the general population and learn more about the people they are creating for. They often educate eachother but do not take the time to step out of thier groups to engage with the general population. Artists often have to do this much more. This practice will enhance thier communication skills and increase thier intuition. I think Musk’s relationship with Grimes helped him to grow as a person and become more intuitive and dynamic with his thinking. He became more willing to take risks and took more of an effort to communicate his ideas and engage with people and think collectively. Knowledge is the most profound and admirable pursuit and more access to education would greatly benefit the planet.

  2. FJB, government gives you tax breaks and blame you for using them. BUILD AMERICA BACK BILL the Democrats are once again giving the 1% income earners more tax breaks. You will be a dumb ass to leave a dime on the table.

  3. “Tax the Rich” is idiotic! Everyone should pay taxes in accordance with tax laws. If there are “loopholes”, then fix the loopholes. Elon, do not sell your stocks to appease the ignorant. Pay your taxes in accordance with tax laws. You do not owe the public your personal financial information.

  4. If i had billions of dollars i would buy up old prisons and turn them into homeless shelters, virtually indestructible so people cant destroy them, gets people off the streets, im sure its tax deductible. It’s a win win.
    Been a dream of mine for a long time.
    Although ending world hunger would be amazing.

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