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Twitter users tell Musk to sell Tesla shares

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  • Elon Musk
    Elon Musk
    South African–born American entrepreneur

Voters in a poll on Twitter urged Elon Musk to sell 10% of his shares in Tesla.

Musk is the world's richest person and CEO of the electric car company, shares of which have hit record highs.

He had said on Saturday he would offload 10% of his stock if users approved the proposal, tweeting:

"Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock."

3.5 million people responded to the poll and nearly 58% of them said he should sell.

A Reuters calculation suggests the shares are worth $21 billion and if he was to sell, he would face a big tax bill.

Musk's latest twitter stunt comes as U.S. Senate Democrats unveil a proposal to tax billionaires' stocks and other tradeable assets to help finance President Joe Biden's social spending agenda.

The legislation would fill a loophole that has allowed people to defer capital gains taxes indefinitely.

Musk has criticized the proposal saying, "Eventually, they run out of other people’s money and then they come for you."

Before the results of the poll were known,

Senate Finance Committee Chairman Ron Wyden said whether Musk pays any taxes shouldn’t depend on Twitter.

Tesla is the world's most valuable car company with a market value exceeding $1 trillion.

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