Famous billionaire Elon Musk, who is everything he says and does, has recently signed another interesting event.
As the tax debate on billionaires continues, Musk tweeted:Beware, I am not getting any cash salary or bonus from anywhere. I only have stock, so the only way I personally pay taxes is to sell stocks.” he said.
Famous billionaire Musk, referring to the billionaire tax, launched a poll on Twitter on Saturday.
To Musk followers “Amid the recent debate that unrealized gains are tax evasion, I’m proposing to sell 10 percent of Tesla shares. Do you support?” he asked his followers to make a decision.
The survey, which was attended by 3,519,252 people on Twitter, ended. 58% of the respondents voted “yes” to sell the shares.
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
Tesla Shares Dropped After Survey!
With the start of the survey, the expected decline in Tesla shares took place. Tesla shares fell on cryptocurrency exchanges, even though the US markets did not open.
On the FTX exchange after the survey, Tesla’s tokenized stocks were down 7% from Friday’s close.
Stating that he will comply with the result of the survey, Musk has not yet explained what he will do with the money he received with the sale of shares.
What is Billionaires Tax?
Under current tax law in the US, assets such as stocks are only taxed when they are sold.
That’s why Democratic members of the US Senate proposed the “billionaires’ tax,” which stipulates that billionaires in the country must pay taxes on stocks and other assets owned by them, even if they are not sold.
If the proposal, which will affect 700 billionaires, is accepted, Elon Musk, one of the richest people in the world, will also face massive taxation.