Elon Musk tweets to ask if he should sell some Tesla stock

NEW YORK (AP) – Tesla CEO Elon Musk is asking on Twitter whether he ought to aloof promote 10% of his inventory within the electrical-automobile firm amid stress in Washington to amplify taxes on billionaires look after him.

Some Democrats were pushing for billionaires to pay taxes when the price of the shares they retain goes up, even within the event that they don’t promote any shares. It be a conception called “unrealized gains,” and Musk is sitting on quite a few them with a secure price of roughly $300 billion.

“A lot is made no longer too long ago of unrealized gains being a form of tax avoidance, so I point out selling 10% of my Tesla inventory,” he tweeted Saturday afternoon. “Enact you aid this?”

By 5: 40 p.m. Eastern time, a bit of extra than two hours after Musk’s preliminary tweet, 54% said sure out of an total of 876,189 votes.

A lot of Musk’s wealth is held in shares of Tesla, which doesn’t pay him a money salary. “I handiest maintain inventory, thus the handiest plan for me to pay taxes in my idea is to promote inventory,” he tweeted.

Musk, who’s legendary for his generally flippant tweets, said he would “abide by the outcomes of this poll.”

A lot is made no longer too long ago of unrealized gains being a form of tax avoidance, so I point out selling 10% of my Tesla inventory.

Enact you aid this?

— Elon Musk (@elonmusk) November 6, 2021

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