Elon Musk it’s nothing but eccentric. While most of us aren’t one of the richest people in the world, we generally take financial advice from experts, carefully follow the rules set by regulators, and spend agonizing hours on how best to keep the money we have sitting in the right places so to maximize our wealth, as it could be. Elon, on the other hand, asks Twitter.
There has been a lot of talk lately about unrealized gains as a means of tax avoidance, so I propose to sell 10% of my Tesla stock.
Do you support this?
– Elon Musk (@elonmusk)
November 6, 2021
Musk followed the Twitter poll asking if he should sell 10% of his own Tesla shares stating that “he will respect the results of this survey, whichever way he goes” and adding, “Note, I don’t take a cash salary or bonus anywhere. I only have shares, so the only way for me to pay my taxes personally is to sell shares “.
Elon has 62.7 million followers on Twitter (since the day it was posted) and the results currently stand at 57.3% in favor of selling the title, with a total of over 3.2 million votes so far. There are three hours left and a lot of followers who haven’t voted, so the results may change. Either way, 10% of Elon’s shares in Tesla are worth about $ 21 billion.
In addition to being just a strange way of deciding whether to make more money than the combined wealth of a huge percentage of the US population, the tax implications for the US coffers are enormous. Unsurprisingly, the tweet attracted attention from many directions, including that of Oregon Democratic Senator Ron Wyden.
Whether or not the richest man in the world pays his taxes shouldn’t hinge on the results of a Twitter poll. It’s time for the billionaire income tax. https://t.co/KFHw3VZ45H
– Ron Wyden (@RonWyden)
November 6, 2021