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.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.— Elon Musk (@elonmusk) November 6, 2021
Do you support this?
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