Elon Musk is nothing if not eccentric. Whereas most of us aren’t one of many richest individuals on the planet, we usually take monetary steering from specialists, rigorously observe guidelines set out by regulators and spend hours agonizing on how greatest to maintain what cash we do have sitting within the correct locations in order to maximise our wealth, equivalent to it could be. Elon, alternatively, asks Twitter.
A lot is made recently of unrealized beneficial properties being a method of tax avoidance, so I suggest promoting 10% of my Tesla inventory.
Do you assist this?
— Elon Musk (@elonmusk)
November 6, 2021
Musk adopted up the Twitter ballot asking whether or not he ought to promote 10% of his Tesla inventory by stating that he “will abide by the outcomes of this ballot, whichever means it goes,” and including, “Observe, I don’t take a money wage or bonus from wherever. I solely have inventory, thus the one means for me to pay taxes personally is to promote inventory.”
Elon has 62.7 million followers on Twitter (as of the day this was revealed), and the outcomes at the moment sit at 57.3% in favor of promoting the inventory, with a complete of over 3.2 million votes to this point. There are three hours left and a whole lot of followers who have not voted, so the outcomes might change. Both means, 10% of Elon’s inventory in Tesla is price about $21 billion.
Moreover simply being an odd option to resolve if he ought to money out more cash than the mixed wealth of an enormous proportion of the inhabitants of the US, the tax implications to the U.S. coffers are huge. Not surprisingly, the tweet garnered consideration from many instructions, together with that of Oregon Democratic Senator Ron Wyden.
Whether or not or not the world’s wealthiest man pays any taxes in any respect shouldn’t rely upon the outcomes of a Twitter ballot. It’s time for the Billionaires Revenue Tax. https://t.co/KFHw3VZ45H
— Ron Wyden (@RonWyden)
November 6, 2021
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