Elon Musk is letting Twitter determine if he ought to promote a few of his Tesla inventory

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Musk, the corporate’s founder and CEO and posted a Twitter ballot Saturday afternoon which stated, “A lot is made recently of unrealized positive factors being a method of tax avoidance, so I suggest promoting 10% of my Tesla inventory. Do you help this?”

He added he’ll follow the poll’s result whichever approach it goes. Three hours after the ballot was being posted greater than 1,000,000 folks had voted, with 54.1% voting sure and 45.9% voting no.

Musk receives no wage from Tesla. His 170.5 million shares of Telsa have been value $208.3 billion as of the shut of buying and selling on Friday. On the worth of $1,2209.09 per share, 10 % of them can be valued at $20.8 billion. With a long-term capital positive factors tax price of 20% for somebody in Musk’s revenue bracket, it might equal a tax invoice from the sale approaching $4.2 billion.

He has owned 80% of these 170.5 million Tesla shares for the reason that firm’s preliminary public providing in 2010.

A ProPublica investigation in June discovered Musk paid no federal income taxes in 2018 — and in 2017 he paid solely $65,000.

“Observe, I don’t take a money wage or bonus from anyplace. I solely have inventory, thus the one approach for me to pay taxes personally is to promote inventory,” Musk tweeted on Saturday.

Earlier within the week, Musk provided to promote Tesla inventory ‘proper now’ if the United Nations may show $6 billion would clear up world starvation.

His feedback Monday got here after UN World Meals Programme (WFP) director David Beasley challenged the ultra-wealthy, and specifically the world’s two richest males — Amazon founder Jeff Bezos and Musk — to “step up now, on a one-time foundation” to assist clear up world starvation in an interview with CNN last week.

“Six billion {dollars} to assist 42 million folks which can be actually going to die if we do not attain them. It is not difficult,” Beasley stated on CNN’s Join the World program with Becky Anderson. The sum would equate to roughly 2% of Musk’s internet wealth.

Prince William has additionally criticized billionaires who’re centered on area tourism, which may embody Musk, who additionally based SpaceX. The corporate despatched the first all-tourist crew to space in September, although many of the firm’s income comes from industrial launches and NASA contracts.

As of Saturday, Musk is the richest man on earth with a complete internet value of $338 billion, in line with the Bloomberg Billionaires Index.

CNN’s Chris Isidore and Walé Azeez contributed to this story.

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