Elon Musk asks Twitter if he should sell $21 billion of Tesla stock

by · Washington Examiner

One of the world's richest men is asking his Twitter followers for financial advice.

Tesla CEO Elon Musk posted a Twitter poll Sunday asking his 62.5 million followers if he should sell 10% of his stock in Tesla. Musk currently owns approximately $200 billion in Tesla stock — this decision would affect $21 billion of Musk's current holdings.

"Much is made lately of unrealized gains being a means of tax avoidance," Musk tweeted. "So I propose selling 10% of my Tesla stock. Do you support this?" Musk says that he will "abide by the results of this poll, whichever way it goes."

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As of Sunday morning, the majority have voted yes.

In 2020, Musk received $0 in salary but was given stock options valued at $22 billion.

Musk tweeted on Saturday, "Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock."

Democratic Sen. Ron Wyden slammed Musk on Twitter, claiming that "Whether or not the world's wealthiest man pays any taxes at all shouldn't depend on the results of a Twitter poll. It's time for the Billionaires Income Tax."

Wyden released a proposal in October to be included in the Democrats' social spending bill that aims to prevent billionaires from avoiding taxes. Wyden claims that it would bring in hundreds of millions of dollars in revenue.

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Musk has criticized Wyden's proposed Billionaires Income Tax, arguing that "Eventually, they run out of other people's money, and then they come for you,"