A Twitter poll shouldn't decide whether Tesla CEO Elon Musk pays 'any taxes at all,' Sen. Ron Wyden says
Advertisement
Kevin Shalvey
Nov 7, 2021, 20:14 IST
Musk in Germany in October.
Patrick Pleul/picture alliance via Getty Image
Sen. Wyden, leader of the push for a billionaires tax, slammed Tesla CEO Elon Musk's Twitter poll.
Musk on Saturday asked Twitter to decide whether he should sell 10% of his Tesla holdings.
Advertisement
Sen. Ron Wyden on Saturday took aim at Tesla CEO Elon Musk's decision to ask Twitter users whether he should sell 10% of his stock in the EV maker, a move that would likely lead to an outsized tax payment.
"Whether or not the world's wealthiest man pays any taxes at all shouldn't depend on the results of a Twitter poll," the Senate Democrat said on Twitter. "It's time for the Billionaires Income Tax."
Musk had posted the poll earlier on Saturday, saying, "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?"
He holds about 170.5 million Tesla shares, valued at about $208.3 billion at Friday's close, CNN reported. A 10% sale would amount to around $21 billion.
Wyden, of Oregon, is leading the charge on a proposed Billionaires Income Tax. When he rolled out the plan in October, he said it would increase taxes for about 700 of America's wealthiest taxpayers.
His proposal would impose taxes on those "with more than $100 million in annual income or more than $1 billion in assets for three consecutive years," according to a one-pager published by his office.
Musk said he would abide by the Twitter poll. But he also previously said he planned to sell "a huge block" of his options this quarter, CNBC reported.
{{}}
NewsletterSIMPLY PUT - where we join the dots to inform and inspire you. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.