Global News

Elon Musk To Sell 10% Of His Tesla Shares Due To Twitter Poll

Elon Musk To Sell 10% Of His Tesla Shares Due To Twitter Poll (Updated: 11 months ago)


The richest man in the world, Elon Musk has indicated plans to sell 10% of his Tesla shares.

The decision came after 3.5 million Twitter users voted between Saturday and Sunday for him to sell it.

57.9% answered “yes” when he posted a poll.

“I will abide by the results of this poll, whichever way it goes” said the entrepreneur who regularly uses the social network to make unexpected announcements or surprising comments. However, he did not specify when he intended to sell his shares, or how.

The whimsical boss of the electric vehicle maker seemed to have his sights set on a recent suggestion from US Congressional Democrats to tax the super-wealthy more heavily by targeting stocks, which are usually only taxed when sold.

Elon Musk had already criticized this proposal in late October, writing in a tweet: “Eventually, they run out of other people’s money and then they come for you.”

On Saturday, he broached the subject again, writing: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.”.

His tweet referred to a mini-poll suggesting that Internet users vote “yes” or “no”.

According to Bloomberg, Elon Musk owned about 17% of Tesla’s outstanding shares as of June 30, which is currently worth $ 208.37 billion.

By selling 10% of its shares, he could theoretically recover a little less than $21 billion.

The entrepreneur was also awarded a large package of stock options and convertible shares as compensation.

His fortune has swelled with the Tesla stock price, from around $ 130 in early 2020 to $ 1,222.09 on Friday night.

With his stakes in his other companies, especially rocket builder SpaceX, Elon Musk is theoretically the richest man in the world with a fortune estimated by Bloomberg at $ 338 billion.

“Note, I do not take a cash salary or bonus from anywhere,” Musk tweeted Saturday.

“I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

 

Tags

Add a coment

Recent Posts

Future
Future
OlaDips
OlaDips
Gyakie
Gyakie
A-Q
A-Q
Eva Alordiah
Eva Alordiah
Yung6ix
Yung6ix
Lamboginny
Lamboginny
Idahams
Idahams
Victoria...
Victoria...
Mr P
Mr P
Sarkodie
Sarkodie
Mascara Vibez
Mascara Vibez
Ozzybee
Ozzybee
Ycee
Ycee
Cardi B
Cardi B
Mr Eazi
Mr Eazi
Spotless
Spotless
DJ Jasz
DJ Jasz
Yomi Blaze
Yomi Blaze
Omawumi
Omawumi
Diamond Jimma
Diamond Jimma
Frank Edwards
Frank Edwards
Buju
Buju
Lilyungage
Lilyungage
Rahman Jago
Rahman Jago
DJ Kaywise
DJ Kaywise
Larry Gaaga
Larry Gaaga
Terri
Terri
Slimcase
Slimcase
Omar Sterling
Omar Sterling
Omah Lay
Omah Lay
Shatta Wale
Shatta Wale
Medikal
Medikal
Sinach
Sinach
LK Kuddy
LK Kuddy
Dre San
Dre San
B-Red
B-Red
Mr Real
Mr Real
CDQ
CDQ
Teni
Teni
NAIJAKIT.COM