New Delhi: tesla stock Premarket trading down nearly 5% after its CEO Elon musk He said he would sell his 10% stake _about $20 billion _ in the electric carmaker based on the results of a survey conducted on Twitter over the weekend.
Musk said he would follow the results of the poll, which ended with 58% of the more than 3.5 million votes, asking him to sell the stock.
Musk owns about 17% of the $1 billion owed Tesla share. If he sold his 10% stake at the current price of about $1,170 per share, it would net him about $20 billion.
Last week, Tesla shares hit an all-time high of $1,243.49 per share. It is the world’s most valuable car maker with a market capitalization of over $1 trillion.
The sometimes abrasive and unpredictable Musk said he proposed selling the stock because some Democrats are pressuring billionaires to pay taxes when the price of the shares they own goes up, even if they don’t sell any shares. be. It’s a concept called “unrealized profits,” and Musk is sitting on a lot of them, with a net worth of nearly $300 billion.
“Having a means of tax evasion has resulted in a lot of unrealized gains lately, so I propose to sell my 10% Tesla Stock,” he tweeted on Saturday afternoon. Do you support this?
Most of Musk’s wealth is in Tesla shares, which does not pay him a cash salary. “I only own stock, so the only way for me personally to pay taxes is to sell stock,” he tweeted.
Musk, who is known for his sometimes flippant tweets, said he would “follow the results of this poll.”
Musk said he would follow the results of the poll, which ended with 58% of the more than 3.5 million votes, asking him to sell the stock.
Musk owns about 17% of the $1 billion owed Tesla share. If he sold his 10% stake at the current price of about $1,170 per share, it would net him about $20 billion.
Last week, Tesla shares hit an all-time high of $1,243.49 per share. It is the world’s most valuable car maker with a market capitalization of over $1 trillion.
The sometimes abrasive and unpredictable Musk said he proposed selling the stock because some Democrats are pressuring billionaires to pay taxes when the price of the shares they own goes up, even if they don’t sell any shares. be. It’s a concept called “unrealized profits,” and Musk is sitting on a lot of them, with a net worth of nearly $300 billion.
“Having a means of tax evasion has resulted in a lot of unrealized gains lately, so I propose to sell my 10% Tesla Stock,” he tweeted on Saturday afternoon. Do you support this?
Most of Musk’s wealth is in Tesla shares, which does not pay him a cash salary. “I only own stock, so the only way for me personally to pay taxes is to sell stock,” he tweeted.
Musk, who is known for his sometimes flippant tweets, said he would “follow the results of this poll.”
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