Â鶹´«Ã½

Skip to main content

Elon Musk asks Twitter if he should sell some Tesla stock

In this March 14, 2019, file photo, Tesla CEO Elon Musk speaks before unveiling the Model Y at the company's design studio in Hawthorne, Calif.  (AP Photo/Jae C. Hong, File) In this March 14, 2019, file photo, Tesla CEO Elon Musk speaks before unveiling the Model Y at the company's design studio in Hawthorne, Calif. (AP Photo/Jae C. Hong, File)
Share
NEW YORK -

Tesla CEO Elon Musk is asking on Twitter whether he should sell 10 per cent of his stock in the electric-vehicle company amid pressure in Washington to increase taxes on billionaires like him.

Some Democrats have been pushing for billionaires to pay taxes when the price of the stocks they hold goes up, even if they don't sell any shares. It's a concept called "unrealized gains," and Musk is sitting on a lot of them with a net worth of roughly $300 billion.

"Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock," he tweeted Saturday afternoon. "Do you support this?"

By 5:40 p.m. Eastern time, a little more than two hours after Musk's initial tweet, 54 per cent said yes out of a total of 876,189 votes.

Much of Musk's wealth is held in shares of Tesla, which does not pay him a cash salary. "I only have stock, thus the only way for me to pay taxes personally is to sell stock," he tweeted.

Musk, who is known for his sometimes flippant tweets, said he would "abide by the results of this poll."

CTVNews.ca Top Stories

An Edmonton man says he was in the wrong place at the wrong time when he was injured by members of the Edmonton Police Service last year.

The brother of a 27-year-old man who was fatally shot in Scarborough over the weekend has been arrested and charged in connection with his death, say police.

Ontario's police watchdog has decided there are no grounds to believe Sudbury police committed a crime during a difficult arrest in May where the suspect's neck was broken.

Local Spotlight

Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.

Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

Stay Connected