Tesla founder Elon Musk is causing a stir with an unusual campaign. He lets Twitter users vote on whether he should sell ten percent of his Tesla shares.
Tesla founder Elon Musk let his followers vote on Twitter to sell ten percent of his shares in the US electric car maker. “Lately there has been a lot of talk about unrealized profits as a means of tax avoidance,” wrote the multi-billionaire on Saturday in the online service. “So I propose to sell ten percent of my Tesla shares.” Musk promised to stick to the result of the vote.
Elon Musk’s poll ends on Sunday evening
Musk explained that he didn’t receive any cash wages or bonuses. Therefore, selling shares is the only way for him to become taxable. His 62 million followers were able to vote yes or no in the Twitter poll. By 10:30 a.m. on Sunday morning, almost 57 percent had voted yes. The poll ends this evening at 8 p.m., more than 2.7 million users have already voted.
The entrepreneur seemed to be aiming at a proposal by the US Democrats for tax reform. You want to tax the super-rich in the US more heavily and have looked at their securities. So far, taxes are only due in the US on the sale of shares.
According to Bloomberg, Musk owned approximately 17 percent of Tesla shares, valued at more than $ 208 billion as of the end of June. With an estimated fortune of $ 338 billion, the Tesla founder is considered the richest man in the world, according to Bloomberg. The value of Tesla stock has skyrocketed over the past week. While the value was around 670 euros at the beginning of October, it rose to around 1069 euros per share by last Friday.
Source From: Stern
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