Twitter Followers Vote 'Yes' to Elon Musk Selling Off 10 Percent of His Tesla Stock

Elon Musk asked his Twitter followers on Saturday if he should sell 10 percent of his company stock. The poll received more than 3.5 million votes.

learn more about The Epoch Times

By The Epoch Times

This story originally appeared on The Epoch Times

Tesla CEO Elon Musk asked his Twitter followers on Saturday if he should sell 10 percent of his company stock as he faces an upcoming large tax bill.

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

"Do you support this?" he asked in a poll.

The poll received more than 3.5 million votes. As of Tuesday morning, 57.9 percent answered yes, with 42.1 percent responding no.

The post had received more than 25,300 retweets, 15,300 quotes, and 144,000 likes at the time of this publication.

Musk also agreed to act according to the poll's outcome in a later post.

"I will abide by the results of this poll, whichever way it goes," he said.

The Tesla CEO also said on Twitter, "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."

Musk owns more than 170 million shares. A Reuters report noted selling 10 percent of his stock would result in nearly $21 billion based on last Friday's prices.

Investor Chamath Palihapitiya highlighted the significance of Musk's Twitter poll in his own recent post.

"We are witnessing the Twitter masses deciding the outcome of a $25B coin flip," Palihapitiya said.

Tesla Inc. shares fell 7.5 percent in premarket trading on Monday as investors prepared for its chief Elon Musk's proposed sale of about a tenth of his holdings in Tesla following the Twitter poll.

Last month, Musk was reported as having a net worth of $242 billion. Multiple outlets claimed the Tesla CEO is on track to become the world's first trillionaire.

Already considered the world's richest person, Musk's Tesla is just one of the multiple companies run by the entrepreneur. His popular SpaceX company has served as an innovator in space travel, already considered the world's second-largest privately held company.

Musk also made news recently when he said he would sell $6 billion in Tesla stock to donate to the World Food Program if the group could disclose information on how it would spend the money.

"If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it," Musk wrote in a Twitter post on Oct. 31.

By Christopher Burroughs

Christopher Burroughs reports on breaking news for The Epoch Times.

The Epoch Times

The Epoch Times is the fastest-growing independent news media in America. We are nonpartisan and dedicated to truthful reporting.

We are free from the influence of any government, corporation, or political party—this is what makes us different from other media organizations. Our goal is to bring our readers accurate information so they can form their own opinions about the most significant topics of our time.

We don’t follow the unhealthy trend of agenda-driven journalism prevalent in today’s media environment. Instead, we use our principles of Truth and Tradition as our guiding light. We highlight in our reporting the best of humanity, the valuable lessons of history, and traditions that are beneficial for society.

The Epoch Times was founded in the United States in the year 2000 in response to communist repression and censorship in China. Our founders, Chinese-Americans who themselves had fled communism, sought to create an independent media to bring the world uncensored and truthful information.

The Epoch Times has received numerous awards for our reporting and design, including from the New York Press Association, the Society of Professional Journalists, and the Society for News Design.

The Epoch Times’ media network currently covers 21 languages and 33 countries.

Related Topics

Editor's Pick

This 61-Year-Old Grandma Who Made $35,000 in the Medical Field Now Earns 7 Figures in Retirement
A 'Quiet Promotion' Will Cost You a Lot — Use This Expert's 4-Step Strategy to Avoid It
3 Red Flags on Your LinkedIn Profile That Scare Clients Away
'Everyone Is Freaking Out.' What's Going On With Silicon Valley Bank? Federal Government Takes Control.

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Celebrity Entrepreneurs

'I Dreaded Falling in Love.' Rupert Murdoch Is Getting Hitched for the Fifth Time.

The 92-year-old media tycoon announces he will wed former San Francisco police chaplain Ann Lesley Smith.

Business News

Carnival Cruise Wants Passengers to Have Fun in the Sun — But Do This, and You'll Get Burned With a New $500 Fee

The cruise line's updated contract follows a spate of unruly guest behavior across the tourism industry.


How Great Entrepreneurs Find Ways to Win During Economic Downturns

Recessions are an opportunity to recalibrate and make great strides in your business while others are unprepared to brave the challenges. Here's how great entrepreneurs can set themselves up for success despite economic uncertainty.

Starting a Business

Selling Your Business? Do These 6 Things Right Now.

If you want the maximum price you need to make these moves before you do anything else.

Business News

'Invest In That Future Now Before It's Too Late': Bill Gates Calls For Global Pandemic Response Team In Op-Ed

In the same month that the World Health Organization called the coronavirus a pandemic three years ago, billionaire Bill Gates reiterated his call for a "fire department for pandemics."