Musk Consults With Twitter Followers Whether to Sell 10% of Tesla Stock

Elon Musk the founder and chief executive officer of leading electric vehicle manufacturer Tesla Inc. (TSLA) took it to twitter asking his followers on the social media platform whether he should sell 10 percent of the shares he holds in the company.

Not long ago, Musk had hinted that he would face a hefty tax bill this year because he has to exercise a huge number of stock options come next year. In the tweet, Musk makes it clear that he doesn’t receive cash salary or even cash bonuses.

Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock. Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” tweeted Musk.

Musk who enjoys 62.5 million followers on twitter said he would abide by the results of the twitter poll which he posted on November 6.

Seven hours after, around 2 million twitter users had already voted with 55% of them voting for Musk to sell 10% of his Tesla shares to pay taxes

Leave a comment

Your email address will not be published. Required fields are marked *