Elon Musk May Have to Give Up At Least $25 Billion After Twitter Poll

Elon Musk
Might presumably Need to Possibility $25B Being Taxed …
After Abnormal Twitter Ballot

11/7/2021 12: 28 PM PT

Elon Musk is about to lose a large chunk of his fortune, assuming he follows through on what he stated he’d originate … namely, promote off a ton of inventory primarily based on nothing but public consensus.

The Tesla chief entertained a wild opinion over the weekend … the opinion that he’d actually promote off a crap ton of his company shares — 10% of it, no much less — if Twitter customers deemed it mandatory for him to originate so … after which posting a 24-hour ballotto that stay.

Great is made recently of unrealized beneficial properties being a approach of tax avoidance, so I propose promoting 10% of my Tesla inventory.

Invent you give a capture to this?

— Elon Musk (@elonmusk) November 6, 2021
@elonmusk

He wrote, “Great is made recently of unrealized beneficial properties being a approach of tax avoidance, so I propose promoting 10% of my Tesla inventory. Invent you give a capture to this?” EM added … “I will abide by the outcomes of this ballot, whichever design it goes.”

Welp, the other folks bear spoken … and as it looks, they’re down for Elon to decrease his get worth some — with nearly 58% of the 3.5 million who voted deciding certain … he oughta originate it.

Elon doesn’t appear to bear responded to the outcomes proper but … but if he does, truly, end honest to his note — he stands to bear a minimal of $25 billion taxed, as that’s how important 10% of his portfolio would be as it pertains to Tesla inventory. Word is … he’s obtained around 193 million shares, which makes up about $250 billion of his estimated $318 billion total wealth.

The humorous section … even though he unloaded 10% proper fancy that — and had a large amount taxed — he’d restful be richer than Jeff Bezos, whose get worth is idling at around $200 bil. So, $25B is almost fancy chump commerce to Mr. Musk!

TMZ.com

Half of the reason Elon looks to bear even knowing to be doing this — assuming he’s valuable, that’s — is on tale of there is a style of chatter, particularly on Capitol Hill, about imposing a wealth tax on the uber-rich … which would tax their sitting wealth as against their earnings.  Elon notes in explicit terms … he doesn’t get a salary or bonuses of any kind.

He says, “Repeat, I originate no longer employ a cash salary or bonus from anywhere. I most effective bear inventory, thus primarily the most involving approach for me to pay taxes in my thought is to promote inventory.”

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