Twitter votes for Elon Musk to sell 10% of his Tesla stock
More than 3.5 million Twitter users they voted in the poll of Elon Musk on Teslalaunched this weekend: about 58% of users is in favor of selling the shares. Regarding the poll, Musk promised to stick to the result: however has not yet commented publicly the verdict. Let’s find out the details.
Elon Musk’s survey of Twitter’s Tesla share sale
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?
– Lorde Edge (@elonmusk) November 6, 2021
Last weekend Elon Musk has published a Twitter survey in which he asked users if he should sell 10% of Tesla shares. In a short time, about 3.5 million users answered and the majority voted yes.
At the moment, however, Musk has not yet commented publicly the verdict nor disclosed how And when it would sell its stake. The share would be valued at approx 21 billion dollars based on 170.5 million Tesla shares owned by Musk.
However, a cryptocurrency version of Tesla shares traded on Ftx suggests that Musk’s tweet would risk causing a stock decline. The shares were on sale at $ 1,137.60 yesterday afternoon, in New York: or the 6.9% less than closing on a Friday for real stocks.
Elon Musk also posted a second tweet in which he points out to users that he does not receive any salary by Tesla. The only way to pay taxes, therefore, is to sell the shares in his possession. This is an important but risky choice that could cause losses to Tesla shareholders.
Finally, in October Elon Musk said he would sell $ 6 billion in Tesla stock and would have donated them to WFP, provided he could describe “exactly how $ 6 billion will solve world hunger.” At the moment we just have to wait for a response from Tesla’s CEO and monitor the situation.