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Twitter users voted for Musk to sell 10% of his Tesla stock, and this is how he reacts to survey results

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November 8, 2021 03:21 GMT

The Tesla CEO came up with the idea after the Biden administration announced plans to implement a tax on the assets of publicly traded billionaires.

Tesla founder and CEO Elon Musk hung This Sunday, the results of a survey he posted on Twitter about whether he should sell his 10% stake in the electric car maker.

In response to the comment of one of his followers, who asked if the poll came out “the way he wanted”, Musk confirmed that he would not go back on his promise to fulfill it. “I was willing to accept any outcome”said the billionaire.

Founder of Tesla general This Saturday, on his personal page on Twitter, a questionnaire in which he asked his followers whether they think that it will be possible for him to sell 10% of the shares he owns in the company, vowing to comply with the results of public opinion. 57.9% of the 3.5 million participants voted in favour of the proposal.

Musk made the proposal after the Joe Biden administration announced plans to tax billionaires to help fund increased social and security spending. Under current US tax law, assets, such as stocks, are taxed only when they are sold.

For his part, the Tesla CEO clarified that he does not receive “any cash salary or any bonuses from anywhere.” “I only have shares, so the only way to pay taxes in person is to sell them,” he said.

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The main source of income for the super-rich in the United States comes from huge portfolios of publicly traded, tax-free stocks. Musk previously Mail Against the tax proposal, stating that any redistribution of wealth in which the government intervened would be better managed by the private sector.

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