Get all your news in one place.
100’s of premium titles.
One app.
Start reading
indy100
indy100
National
Sinead Butler

Elon Musk asked Twitter whether he should sell some of his Tesla stock - this is what the internet decided

Elon Musk is known for his chaotic social media presence and he lived up to this reputation when he decided to let his 62.8m followers decide whether or not he should sell 10 per cent of his Tesla stock.

In a tweet on Saturday, as Democrat senators proposed a “billionaires tax”, Musk wrote: “Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock.”

“Note, I do not take a cash salary or bonus from anywhere,” Musk added in a follow-up tweet. “I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

This means he has no earnings on which to pay income tax.

Sign up to our new free Indy100 weekly newsletter

Musk couldn’t help but notice a glaring Joe Biden pun and additionally tweeted: “*abide(n).”

Obviously, Musk’s followers had plenty to say about the proposal and made their voice heard in the votes as over 3.5m people in total voted in the poll choosing “Yes” or “No” as to whether they support the Space X and Tesla CEO selling a portion of his stock.

The campaign group for progressive Democrat senator Bernie Sanders made their feelings pretty clear.

Meanwhile, Democrat US senator Ron Wyden criticised Elon’s latest Twitter stunt and tweeted: “Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll.”

He added: “It’s time for the Billionaires Income Tax.”

Though Wyden’s response seemed to rub the world’s richest man up the wrong way as Musk then replied trolling the senator with a NFSW response:

YouTuber Mr Beast found the idea of a Twitter poll deciding “the fate of $20,000,000,000+” pretty funny.

Many others also shared their thought’s of Musk’s Twitter poll.

Well, it looks like Musk has some selling to do after the results from the poll show that 57.9 per cent of people voted “Yes” in favour of Musk selling his stock, while 42.1 per cent said “No” against the billionaire selling some of his shares.

So how much would 10 per cent of Musk’s Tesla stock be worth?

Musk’s shares amount to 170.5 million as of June 30, therefore selling 10 per cent of this would amount close to $21bn based on Friday’s closing, according to calculations made by Reuters.

Meanwhile some were convinced that Elon wanted to sell the stock in the first place but with the Twitter poll has made it look like it was the public’s decision.

Recently, Musk’s brother Kimbal along with other Tesla board member sold some of their Tesla shares - Kimbal sold 88,500 and board member Ira Ehrenpreis sold shares worth more than $200 million, The Guardian reported.

When asked if the poll outcome turned out the way he wanted, Musk didn’t give much away, and said he was “prepared to accept either outcome.”

It’s not the first time Musk has caused a stir on Twitter.

The 50-year-old claimed that he would sell $6bn of Tesla stock and donate it to the UN’s World Food Programme, if they could show how exactly how the money would be able to solve world hunger.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Tom Sandoval and Tom Schwartz’s bar Schwartz & Sandy’s is closing after only two years
‘Vanderpump Rules’ stars reveal their Los Angeles bar is shutting down after only two years
The Independent UK
The Independent UK
Zendaya Co-Signs Burgundy Plaid on a Low-Key Date with Tom Holland in Boston
The pair stopped by a bar for drinks on their casual Sunday night outing.
Marie Claire
Marie Claire
Cher Reveals She Didn't Know Her Real Name Until She Was in Her Thirties
The pop legend was "shocked" when she found out the truth.
Marie Claire
Marie Claire
Voices: Kate Nash selling pictures of her backside to OnlyFans? Why not?
COMMENT: Personally, after a lot of agonising, I think the singer is a total legend for launching her Butts4TourBuses OnlyFans account, writes Katie Edwards. The question is: do you?
The Independent UK
The Independent UK
Wolfs director cancels Apple TV Plus movie sequel, despite being the most-watched feature film on the streaming service
Wolfs won't be getting a sequel at Apple TV Plus after the director revealed why he's decided not to continue.
TechRadar
TechRadar
Image of Thanksgiving Menu From 1899 Goes Viral: 'Most Expensive Item on Menu is $2'
An image of the Thanksgiving menu from New York City's Plaza Hotel in 1899 is going viral as social media users note the difference 125 years can make.
Latin Times
Latin Times
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play