Musk Holds A ‘Referendum’ On Twitter

The richest man in the world – according to the Bloomberg classification – creates controversy again. Elon Musk has started a poll on Twitter asking users if they think he should sell 10% of his Tesla shares to pay taxes.

“There is a lot of talk lately that unrealized gains are a way to evade taxes, so I propose to sell 10% of my Tesla shares. Do you support it?” Asks the tycoon, who gives his followers the option of answer yes or no.

In this sense, Musk clarifies that he does not receive any cash salary or any type of bonus, so “the only way” he has to pay taxes “is to sell shares.”

Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.

Do you support this?

?? Elon Musk (@elonmusk) November 6, 2021
The founder of the company has promised to comply with the pronouncement of users through the survey, although he has not specified how long he would sell his titles. He currently owns approximately 17% of the total shares of the carmaker, so the value of the shares at stake would amount to about 20,000 million dollars .

With two hours left until the end of the poll, more than 3.3 million Twitter accounts have voted in this kind of referendum. At this time, the yes wins with 57.5% of the votes, compared to 42.5% of the no’s.

The message also has more than 45,000 responses, where tweeters are pouring out all kinds of opinions and starting debates about taxation in the US and the great fortunes.

A few days ago, Musk had already hinted at his criticism of the new legislative proposal of the Democrats in the United States that taxes unrealized gains for large fortunes, forcing them to pay taxes for the mere fact of having a lot of equity in shares and without the need for sell them.

Musk’s net worth currently stands at $ 335 billion thanks to the increase in the price of Tesla shares, which have appreciated 190% in the last 12 months. The company already accumulates a market capitalization of over 1.2 trillion dollars.