Nov 8, 2021
Tesla share price falls after Elon Musk's Twitter poll
Tesla shares have fallen by about 4.6% after Twitter users voted in favour of boss Elon Musk selling 10% of his stake in the carmaker in order to pay tax. Mr Musk held the poll over the weekend in response to a "Billionaires tax" proposed by US Democrats. In order to exercise them, Mr Musk would have to pay a large tax bill. Mr Musk said on Twitter he takes no salary or bonuses from any of his companies, meaning he has no earnings on which to pay income tax. The plan, floated earlier this year would change the way Americans are taxed, but it only applied to around 700 individuals, the richest of America's richest, including Mr Musk.Typically the very wealthy keep their money in the form of assets such as shares in their own companies, and only pay tax if they sell those shares.
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