Elon Musk lets Twitter decide whether to sell part of his Tesla shares
Musk, the founder and CEO of the company, posted a Twitter poll on Saturday afternoon that said, “Lately there’s been a lot of talk about unrealized gains as a means of tax evasion, so I suggest selling 10%. of my Tesla shares. Are you in favor of this?
Musk does not receive any salary from Tesla. Its 170.5 million shares of Telsa were worth $ 208.3 billion as of market close on Friday. Priced at $ 1,2209.09 per share, 10% of them would be valued at $ 20.8 billion. With a long-term capital gains tax rate of 20% for someone in Musk’s income bracket, that would amount to a sales tax bill approaching $ 4.2 billion.
He owns 80% of those 170.5 million Tesla shares since the company’s initial public offering in 2010.
Earlier in the week, Musk offered to sell Tesla’s shares “right now” if the United Nations could prove that $ 6 billion would solve world hunger.
“Six billion dollars to help 42 million people who will literally die if we don’t reach them. It’s not complicated,” Beasley said on CNN’s Connect the World with Becky Anderson. The sum would equate to roughly 2% of Musk’s net wealth.