New madness or real question? At a time when Washington is pushing to increase taxes on billionaires like him, Elon Musk asked his 62 million followers on Twitter if he should sell 10% of his shares in Tesla, and assured that he will respect his decision.
Some Democrats have lobbied for billionaires to pay taxes when the price of the stock they own rises, even if they don’t sell it.
It’s a concept known as “unrealized earnings,” and Musk has many of them with a net worth of roughly $ 300 billion.
“There has been a lot of talk lately that unrealized gains are a means of tax evasion, which is why I propose to sell 10% of my Tesla shares,” the businessman wrote. “Do you support this?”
Just over five hours after Musk’s initial tweet, nearly 54% have voted yes out of a total of 1,681,559 votes.
Much of Musk’s wealth is in Tesla stocks, which do not earn him a cash salary. “I only have shares, so the only way to pay taxes personally is to sell shares,” he tweeted.
Musk, who is known for his sometimes superficial tweets, said he will stick “to the results of this poll.”
JL
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