Sun 07 November 2021:
Elon Musk, the founder of the US companies Tesla and SpaceX, published a poll on Twitter asking fans to vote on whether he should sell 10% of his Tesla stock.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. I will abide by the results of this poll, whichever way it goes,” Musk tweeted.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
The poll is open not only to 62.5 million Musk’s followers but also to other users, who have almost 24 hours to cast a vote. More than a half of voters have opted for selling the shares so far.
“Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock,” Musk said.
Musk lambasted a proposal by Democrats in the US Congress to tax billionaires’ investment earnings in late October.
In a separate tweet, Musk said any government-induced reallocation of wealth would be better managed by the private sector.
“Who is best at capital allocation – government or entrepreneurs – is indeed what it comes down to,” he wrote on Twitter. “The tricksters will conflate capital allocation with consumption.”
Musk’s net worth has risen to $335 billion this year as Tesla stock has skyrocketed. He is by far the wealthiest person on Bloomberg’s list of the world’s wealthiest people.
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