Twitter has spoken… Elon Musk should sell a $26 billion stake in Tesla, driving the company’s Frankfurt-listed & U.S.-listed shares down 3.67% & 4.92%, respectively.
More details🧐 Musk previously said he would have to exercise a large number of stock options in the next three months, which would create a big tax bill.
Under plans proposed by the Democratic Party in the Senate, billionaires could be taxed on “unrealized gains” when the price of their shares goes up – even if they do not sell any of their stock.
Selling some of his stock could free up funds to pay the taxes.
Why is this important🤔 Including stock options, Musk owns a 23% stake in Tesla, the world’s most valuable car company. With the vote calling for the sale of a 10% stake, this would translate to nearly $21 billion of Tesla stock.