Nearly 58% of over 3.5 million participants that took part in the poll asked Elon Musk to go ahead and sell 10% of Tesla's stock.

Elon Musk launched a poll on Twitter on 6th November, asking his followers that either he should sell 10% of Tesla’s stock or not. The billionaire had promised to abide by the results of the Twitter poll, whichever way it goes. The reason for the poll was the policy being floated around, namely; Tax Unrealized Gains – The policy aims to target billionaires, who avoid paying taxes.

Read more: Elon Musk Offers To Donate $6 Billion Worth Tesla Stock To Solve World Hunger

10% of Tesla’s stock at stake

According to the Twitter pole – posted by Elon Musk to sell 10% of Tesla’s stock –  57.9 percent of more than 3.5 million participants had voted YES, and 42.1 percent voted NO. Elon Musk has been an avid critic of tax unrealized gains, he voiced his concerns in a tweet; “Note, I do not take a cash salary or bonus from anywhere,” Musk tweeted. “I only have stock, thus the only way for me to pay taxes personally is to sell stock.” To which, Senator Wyden – the Congressperson behind the tax unrealized gains proposal – responded; “Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. It’s time for the Billionaires Income Tax.”

Elon Musk’s wealth

Bloomberg estimated Musk’s wealth at $338 billion, with over $208 billion of that figure being present in Tesla’s stocks. Tesla stocks went from about $130 at the start of 2020 to $1,222.09 till last Friday. The company is now valued at over $1 trillion as demand for electric cars continues to surge. The Verge pointed Elon Musk’s interview to a journalist in late September, which states; “I have a bunch of [stock] options that are expiring early next year, so that’s a huge block of options we’ll sell in Q4.”

Source: The Verge


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