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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 mentioned, “A lot is made these days of unrealized features being a way 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 manner it goes. Three hours after the ballot was being posted greater than 1,000,000 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 value $208.3 billion as of the shut of buying and selling on Friday. On the worth of $1,2209.09 per share, 10 % of them can be valued at $20.8 billion. With a long-term capital features tax price of 20% for somebody in Musk’s revenue bracket, it might equal a tax invoice from the sale approaching $4.2 billion.

He has owned 80% of these 170.5 million Tesla shares because the 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.
“Be aware, I don’t take a money wage or bonus from wherever. I solely have inventory, thus the one manner 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 supplied to promote Tesla inventory ‘proper now’ if the United Nations may show $6 billion would remedy world starvation.

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

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

Prince William has additionally criticized billionaires who’re targeted on house 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 business launches and NASA contracts.
As of Saturday, Musk is the richest man on earth with a complete internet value of $338 billion, based on the Bloomberg Billionaires Index.

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