Press "Enter" to skip to content

Elon Musk asks Twitter if he should sell his Tesla stocks worth USD 21 billion – Here’s why – DNA India

World’s richest man Elon Musk threw a poll at Twitter on Saturday asking if he should sell 10% of his Tesla stocks. 

This comes after he had said that he might face a huge tax bill in the upcoming year and the only way to pay taxes is through selling stock since he doesn’t have any cash. He said on Twitter, “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.” 

He added more referring to the billionaires’ tax proposed by Democrats. He said, “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.”

Elon Musk’s poll on Twitter received over 2 million responses in a span of seven hours with 55 percent of respondents approving the proposal to sell the shares. Musk has said that he will do whatever the result of the poll turns out to be. 

Here is the Twitter poll:

In addition to being Tesla’s Chief Executive, Elon Musk also holds about 170.5 million shares in the company. If he sells 10 percent of his shares the that will amount to approximately $21 billion based on Friday’s closing. 

Recently, Musk had challenged the United Nations that he would donate $6 billion if they provided him with a good enough strategy. This came after David Beasley, the director of the United Nations World Food Program (WFP) told CNN that a one-time payment of 2% of Musk’s wealth or other billionaires will be able to solve global hunger.

In a response to a tweet by Dr Eli David, who is a co-founder of a company called Deep Instinct that was a screenshot of the CNN article mentioning Beasley, Musk tweeted, “If the WFP can describe on this Twitter thread exactly how $6 billion will solve world hunger, I will sell Tesla stock right now and do it.”