Twitter vote: Musk wants to sell Tesla shares

Status: 07.11.2021 9:16 p.m.

Multi-billionaire Musk has had Twitter users oblige him to sell a tenth of his Tesla shares and pay tax on the profits. Because Musk pays no taxes on his company shares – and is criticized for it.

Tesla founder Elon Musk is considered the richest person in the world – at least in theory, because Musk has invested a large part of his wealth in stocks. He is by far the largest shareholder in the electric car manufacturer: the boss alone holds 21 percent of the shares.

Overall, Musk’s net worth is estimated at $ 338 billion. A huge sum that could be used to directly address many pressing issues. Could – because Musk does far too little, measured by his wealth, say his critics. In fact, the 50-year-old doesn’t even pay taxes – they only become due when shares are sold.

Twitter poll with consequences

The tech billionaire therefore had a vote on Twitter – effectively advertising – whether he should sell a tenth of his Tesla shares. After all, they would be worth a good 20 billion US dollars – a good amount of money would come together for the tax authorities. The result of the Musk followers was clear: within 24 hours, 57.9 percent of the 3.5 million participants voted “Yes”.

Musk definitely wants to stick to the vote. However, he did not provide any information on how quickly he will sell the block of shares. In the United States, there are often pre-agreed schedules for stock sales by top managers. Musk had already talked about selling stocks in September.

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