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Elon Musk Asked Twitter If He Had To Sell Stock To Pay Taxes


Photo of Elon Musk Asked Twitter If He Had To Sell 10% Of His Tesla Tesla To Pay Taxes.  Twitter Voted Yes

Figure: Britta Pedersen-Pool (Getty Images)

Tesla CEO Elon Musk, well-known Twitter lover, he thought it would be a good idea to let people on the platform decide whether they should pay taxes or not, so he did some research. Musk asked Twitterverse whether he should sell 10% of Tesla stock, saying he was willing to respect the results of the survey, “wherever he goes.” Twitter did not vote “yes.”

Major technology launched the election on Saturday based on recent legislation the idea of ​​taxes that did not happen – or the benefits that exist on paper only it doesn’t be real to the point of money for sale—, what others have said allowing billions to avoid taxes. In his article, Musk explained that he only receives pay from his affiliated companies and does not take any payments or bonuses. The reason, he said, “The only way I can pay my taxes on my own is to sell property.”

Musk owns more than 17% of Tesla stock, which is worth more than $ 200 billion, according to Wall Street Journal. Selling 10% right now prices could be around $ 21 billion.

“Most of it has been made recently due to unprofitable profits as a way to avoid tax evasion, which is why I want to sell 10% of my Tesla assets,” Musk wrote. in a tweet with his vote, I add: “I will follow the results of this study, in any case.”

3.5 million people voted for Musk, while 57.9% said they should sell and 42.1% said they should not.

Since the vote, however, Twitterverse has not heard much more from Musk on the topic. Mu a answer to tweet and ask if the vote went the way they wanted, Musk said he was willing to accept any results.

Last month, Musk criticized the idea of ​​Senate Finance President Ron Wyden, a Democrat from Oregon, collecting taxes that have not been met on public property, say (on Twitter) that the idea reaches out to a small number of taxpayers because “[e]in time, they spend money on others and then come back looking for you. ”

Which is a fitting one, Wyden’s view was removed almost immediately after its inception, but it caused a great deal of controversy, another Musk decided to intervene.

Although Musk wrote this as a way for people to decide what to do with his money, CNBC is showing that maybe Tesla exec would have sold the goods even if Twitter hadn’t pulled Palpatine and told him do it.

This is because Musk is facing a A billion-dollar tax on the 22.8 million shares that were given as a business option in 2012. In order to use those options, Musk has to pay tax on what they earned on their shares at their current value, which results in profits. about $ 28 billion. CNBC reports that due to the combined state and federal tax of 54.1%, CEO of Tesla amaima paying $ 15 billion.

Musk announced in September that it would sell some of its options in the fourth quarter of this year because it was about to expire. The CEO of Tesla often does not sell the goods he already owns, but owns them did the same in the past to pay taxes on its stock options.

Musk’s research and its findings made a lot of sense for us to discuss on Twitter. The study also received a response from Wyden.

“Whether the richest person in the world pays taxes or not, it should not depend on the results of the Twitter survey. It is time for the Billionaires Income Taxes,” the senator said. tweeted.

To put it all in perspective, a reports last summer he found out that Musk paid $ 0 in income tax in 2018. So yeah, the amount of tax they pay is a small fraction of people’s progress.


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