Twitter Users Ask Elon Musk To Sell 10 Percent Of Tesla Stock
Thompson Nsisongabasi
Nov 08, 2021
Twitter Users Ask Elon Musk To Sell 10 Percent Of Tesla Stock
Twitter has spoken - after Elon Musk polled his more than 62 million followers on whether he should sell 10 percent of his Tesla shares, by Sunday a majority had voted "yes.ÔÇØ
READ ALSO: BREAKING: Akeredolu tests positive for COVID-19
"I was prepared to accept either outcome,ÔÇØ said Musk, who regularly takes to Twitter to make unexpected announcements or surprising comments. He did not specify when or how he plans to sell the shares.
READ ALSO: BREAKING: CBN introduces new charges for USSD services | READ DETAILS
The electric car maker's query on Saturday night follows a proposal by US Congressional Democrats to tax the super wealthy more heavily by targeting stocks, which are usually only taxed when sold.
READ ALSO: UPDATE: Another person shot dead in Aba with more confusion | PHOTOS
Musk had already criticized the proposal at the end of October, tweeting: "Eventually, they run out of other people's money and then they come for you.ÔÇØ
READ ALSO: SH0CKING! Facebook Livestreams Will Now Be Removed After 30 Days | WHAT TO DO
He broached the topic again on Saturday, writing on Twitter: "Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.ÔÇØ
READ ALSO: Police suspect foul play as Ogun Varsity student commits suicide, launches investigation
He also shared a poll asking followers whether they agree "yesÔÇØ or "no.ÔÇØ
READ ALSO: SH0CKING: MTN give reason why they will shutdown in Nigeria, CEO explains
By Sunday, 57.9 percent of those who voted had picked "yes.ÔÇØ
READ ALSO: Why Telecom Companies Considered Raising Tariffs Amid Economic Crisis
Musk owned about 17 percent of Tesla's outstanding shares as of June 30, currently worth $208.37 billion, according to Bloomberg.
READ ALSO: 3 phones with better camera quality than iPhones | SEE PRIZE
The entrepreneur was also awarded a large package of stock options and convertible shares as compensation.
READ ALSO: Donald Trump ordered Ukraine envoy's sacking in 2018
By selling 10 percent of his shares, he could theoretically earn just under $21 billion.
READ ALSO: How Amotekun Apprehend Suspected Bandits In Oyo
His wealth swelled with the recent surge in Tesla's stock price, from about $130 at the start of 2020 to $1,222.09 as of Friday.
READ ALSO: Nigerians Can Now Enjoy Lightning-Fast Web Hosting with Teehost's Affordable Plans
Taking into account his stakes in his other companies, such as neurotechnology firm Neuralink and SpaceX, Musk is, in theory, the richest man in the world, with an estimated fortune of some $338 billion, according to Bloomberg.
READ ALSO: Abia Radio Stations Set To Launch August 1st, 5am - Ushering In A New Digital Radio Era
"Note, I do not take a cash salary or bonus from anywhere,ÔÇØ Musk tweeted Saturday.
READ ALSO: BREAKING: Akeredolu tests positive for COVID-19
"I only have stock, thus the only way for me to pay taxes personally is to sell stock.ÔÇØ
READ ALSO: BREAKING: CBN introduces new charges for USSD services | READ DETAILS
AFP
Related Stories
Abia Radio Stations Set To Launch August 1st, 5am - Ushering In A New Digital Radio Era
SH0CKING! Facebook Livestreams Will Now Be Removed After 30 Days | WHAT TO DO
SH0CKING: MTN give reason why they will shutdown in Nigeria, CEO explains
Nigerians Can Now Enjoy Lightning-Fast Web Hosting with Teehost's Affordable Plans
3 phones with better camera quality than iPhones | SEE PRIZE
Why Telecom Companies Considered Raising Tariffs Amid Economic Crisis
""
— Thompson Nsisongabasi