Twitter Decided Instead of Musk to Sell 10% of His Tesla Shares

Twitter users have decided that entrepreneur Elon Musk will sell 10% of his shares in Tesla. This was done through a poll published by him, in which he stated that he would take the step if Twitter approved, and would take into account the results of the poll, whatever they may be.

More than 3.5 million people voted, and almost 58% of them answered "yes".

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

As a result of the decision, the billionaire would receive nearly 21 billion dollars for one-tenth of the company. As of June 30, he owned more than 170 million shares in it.

Musk had not commented on the poll 12 hours after it closed, but this morning he has a new name on Twitter - Lorde Edge, its location - Trollheim. The billionaire, who aroused the curiosity of some of the 63 million followers, is about to explain his decision.

Why should Musk sell 10% of Tesla

The reason is a dispute over the payment of taxes.

Democrats from the US Senate presented a proposal to tax the shares and other assets of billionaires to help fund President Joe Biden's social programs. This would close a loophole in the law that allowed them to postpone the payment of capital gains taxes indefinitely. The so-called tax on unrealized profits would apply when the value of the holders' shares increases, even if they do not sell any of their shares. Hundreds of billionaires in the United States are potentially affected.

"There's been a lot of talk lately about how unrealized profits are a means of tax evasion, so I'm proposing to sell 10 percent of...