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Musk polls Twitter on selling 10% of his Tesla stock
Elon Musk said he would sell 10 percent of his stock in Tesla, if his Twitter followers voted him to. Musk, Tesla’s Chief Executive, created a poll on his account Saturday where he has more than 60 million followers, and said he would abide by the results. According to Reuters’ calculations, selling 10 percent of his Tesla stock would amount close to $21 billion based on Friday’s NASDAQ closing.The world’s richest person had previously said he could face what he called a “massive” tax bill this year, as he has to exercise a large number of stock options coming due next year. On Twitter, he claimed he does not take a cash salary, and that the only way he could personally pay taxes was to sell stock.Musk had previously criticised a proposed ‘billionaires tax’ by U.S. House Democrats, who have argued that unrealized gains were a means of tax avoidance. The tax would affect 700 billionaires, as well as impose taxes for long-term capital gains on tradable assets – whether or not they’ve been sold. Musk’s poll received almost 2 million responses in seven hours, with 55 percent of respondents voting in favor of Musk selling the shares. The poll is expected to close Sunday afternoon.
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