Elon Musk is letting Twitter decide if he should sell some of his Tesla stock

Musk, the corporate’s founder and CEO and posted a Twitter ballot Saturday afternoon which stated, “A lot is made currently of unrealized good points being a method of tax avoidance, so I suggest promoting 10% of my Tesla inventory. Do you assist this?”

He added he’ll follow the poll’s result whichever means it goes. Three hours after the ballot was being posted greater than one million individuals had voted, with 54.1% voting sure and 45.9% voting no.

Musk receives no wage from Tesla. His 170.5 million shares of Telsa had been price $208.3 billion as of the shut of buying and selling on Friday. On the worth of $1,2209.09 per share, 10 p.c of them can be valued at $20.8 billion. With a long-term capital good points tax price of 20% for somebody in Musk’s earnings bracket, it will equal a tax invoice from the sale approaching $4.2 billion.

He has owned 80% of these 170.5 million Tesla shares for the reason that firm’s preliminary public providing in 2010.

A ProPublica investigation in June discovered Musk paid no federal income taxes in 2018 — and in 2017 he paid solely $65,000.
“Word, I don’t take a money wage or bonus from anyplace. I solely have inventory, thus the one means for me to pay taxes personally is to promote inventory,” Musk tweeted on Saturday.
I'm not picking on Elon Musk. Just please help, says UN food official

Earlier within the week, Musk provided to promote Tesla inventory ‘proper now’ if the United Nations may show $6 billion would resolve world starvation.

His feedback Monday got here after UN World Meals Programme (WFP) director David Beasley challenged the ultra-wealthy, and particularly the world’s two richest males — Amazon founder Jeff Bezos and Musk — to “step up now, on a one-time foundation” to assist resolve world starvation in an interview with CNN last week.

“Six billion {dollars} to assist 42 million individuals which are actually going to die if we do not attain them. It isn’t difficult,” Beasley stated on CNN’s Join the World program with Becky Anderson. The sum would equate to roughly 2% of Musk’s web wealth.

Prince William has additionally criticized billionaires who’re centered on area tourism, which may embody Musk, who additionally based SpaceX. The corporate despatched the first all-tourist crew to space in September, although a lot of the firm’s income comes from industrial launches and NASA contracts.
As of Saturday, Musk is the richest man on earth with a complete web price of $338 billion, in keeping with the Bloomberg Billionaires Index.

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