Posted on Nov 7, 2021, 11:30 AMUpdated Nov 7, 2021, 11:31 AM
We knew the CEO of Tesla used to unexpected statements on social networks. It is today a – small – part of his fortune that he puts at stake. Elon Musk on Saturday submitted to the vote of the 62.5 million people who follow him on Twitter the proposal to sell 10% of his shares in the automotive group.
“There has been a lot of talk lately about unrealized gains as a means of tax evasion, so I am proposing to sell 10% of my Tesla shares. Do you support this? He writes. “I will respect the results of this poll, whatever the meaning,” he said.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
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As of 10:35 a.m. Sunday morning, more than 2.7 million people had participated in the exercise. 56.6% of the voters were in favor of the sale. Elon Musk’s “poll” is scheduled to end this Sunday late afternoon.
US taxation in the background
By this interpellation, Elon Musk is, in fact, alluding to the project of “tax on the super-rich” carried by the Democrats in the American Senate in order to finance the investment programs of Joe Biden. Under the terms of the text, this tax on the income of great fortunes, about 700 taxpayers, would raise hundreds of billions of dollars, by taxing the taxation of unrealized capital gains.
However, Elon Musk pays almost no income tax, despite his fortune estimated at more than $ 300 billion. “Note that I do not get any cash pay or bonus from anywhere. I only have shares, so the only way for me to pay taxes personally is to sell shares, ”said Elon Musk.
According to Reuters calculations, the sale of 10% of the shares of the founder of SpaceX – he had 170.5 million as of June 30 – would bring in nearly $ 21 billion, at the price set at Friday’s close on the New York Stock Exchange. A sum on which he will pay taxes.
Avec Reuters
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