SpaceX founder and Tesla CEO Elon Musk is holding his helmet on May 17, 2021 while visiting the construction site of Tesla’s Gigafactory in Grünheide, near Berlin, Germany.
Michele Tantussi | Reuters
In response to criticism that he is doing Avoided his fair tax payments, Tesla’s CEO asked users to decide whether to own or sell a 10% stake.
“Recently, unrealized profits are often a means of tax avoidance, so we propose to sell 10% of Tesla’s stock. Do you support this?” He said. Mask added voting capabilities so users could vote “yes” or “no.”
“I follow the results of this poll no matter how I do it,” added Musk, one of the wealthiest people in the world. It was not immediately clear what the proposed sale would be or what the tax rate would be. As of December last year, Musk owned about 22.4% of the company’s outstanding shares, according to The Wall Street Journal.
Billionaires can benefit from tax avoidance strategies that are not offered to those who earn from traditional wage income. Extreme wealth is often based on rising stock and real estate values and is not considered taxable unless those assets are sold. There is a 10% unrealized profit. If the musk is sold, he will be taxed.
At the beginning of this summer Investigative journalism site ProPublica reported About Mask’s tax bill as part of a large analysis of millionaire finances.Outlet found it Mask’s income tax bill went to zero in 2018.. Musk later counterattacked, saying the report was “tricky” and “misleading.” He added that his cash compensation was close to zero as he was very few because he was not paid.
“Note: I don’t get cash salaries or bonuses from anywhere. I only have stock, so the only way to pay taxes personally is to sell stock,” he said on Saturday.
Elon Musk uses Twitter polls to determine the future of Tesla shares
Source link Elon Musk uses Twitter polls to determine the future of Tesla shares
The post Elon Musk uses Twitter polls to determine the future of Tesla shares appeared first on Eminetra.