Elon Musk asks Twitter followers if he should sell 10% of Tesla stock

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Elon Musk connected Saturday asked his 62.5 cardinal followers connected Twitter if helium should merchantability 10% of his Tesla stock.

“Much is made lately of unrealized gains being a means of taxation avoidance, truthful I suggest selling 10% of my Tesla stock,” Musk wrote successful a tweet referring to a “billionaires’ tax” proposed by Democrats successful the US Senate.

Musk tweeted that helium would abide by the results of the poll. It received much than 700,000 responses successful the hr aft Musk posted it, with astir 56% of respondents approving the connection to merchantability the shares.

Musk’s shareholding successful Tesla comes to astir 170.5 cardinal shares arsenic of 30 June and selling 10% of his banal would magnitude adjacent to $21bn based connected Friday’s closing, according to Reuters calculations.

Analysts accidental helium whitethorn person to offload a important fig of shares anyhow to wage taxes since a ample fig of options volition expire adjacent year.

The comments from Musk travel aft the connection successful Congress to taxation billionaires’ assets to assistance wage for Joe Biden’s societal and climate-change agenda. Musk is 1 of the world’s richest radical and proprietor of companies including SpaceX and Neuralink. He has criticized the billionaires’ taxation connected Twitter.

“Note, I bash not instrumentality a currency wage oregon bonus from anywhere,” Musk said. “I lone person stock, frankincense the lone mode for maine to wage taxes personally is to merchantability stock.”

Tesla committee members including Elon Musk’s parent Kimbal person precocious sold shares successful the electrical carmaker. Kimbal Musk sold 88,500 shares portion chap committee subordinate Ira Ehrenpreis sold shares worthy much than $200m.