Tesla’s stock price has dropped as a result of a Twitter poll posted by none other than the company’s CEO, Elon Musk, indicating that voters want him to sell some of his company stock. The stock price fell by 4.9 percent.
As of press time, 57.9 percent of poll respondents supported the Tesla CEO selling 10% of his Tesla stock. Musk has stated that he intends to follow the results of his Twitter poll.
The Tesla CEO’s Twitter poll comes after US Democrats proposed a “billionaires tax.” The proposal aims to tax billionaires’ assets, including their stock options.
Elon Musk owns 20.7 percent of Tesla’s stock. He is proposing to sell 10% of his shares for a total of $21 billion.
Tesla’s stock price has fallen.
Tesla’s stock price has fallen after the company’s CEO, Elon Musk, polled Twitter users on whether he should sell 10% of his Tesla stock.
According to the BBC, Tesla’s stock price has dropped by 4.9 percent as a result of the Twitter poll.
According to Musk’s poll, as of press time, 57.9 percent of voters support the Tesla CEO selling 10% of his Tesla stock. The remaining 42.1 percent are opposed to the idea.
In a subsequent tweet, Tesla CEO Elon Musk stated that he will follow the results of his Twitter poll.
According to the BBC report, AJ Bell Investment Director Russ Mould stated, “Elon Musk doesn’t like to do things in a conventional way, so holding a poll on Twitter about whether he should sell 10% of his stake in Tesla might seem crazy, but one could say it is normal behavior for him.”
Tesla is owned by Elon Musk.
According to Forbes, Elon Musk owns 20.7 percent of Tesla’s total shares. He has 193.3 million Tesla shares in his possession.
As of press time, the company’s market capitalization was $1.22 trillion.
According to the BBC, 10% of Elon Musk’s Tesla shares are worth $21 billion as of Friday’s closing prices.
The “Billionaires Tax”
According to the BBC, Tesla CEO Elon Musk posted his Twitter poll after Democrats in the United States proposed a “billionaires tax,” which would tax billionaires’ assets, including their company shares.
According to the BBC, billionaires are typically compensated in the form of shares, and they only pay taxes once these shares are sold.
Elon Musk himself stated in a subsequent tweet after his Twitter poll was published that he does not “take a cash salary or bonus from anywhere.”
“Because I only own stock, the only way for me to pay taxes personally is to sell stock,” he added.