Tesla CEO and founder Elon Musk tweeted a poll on Saturday asking users if he supported selling 10 percent of his shares in his company’s stock. After 58 percent of voters answered yes to the vote, Tesla stock began to decline in off-hours trading and fell more than 2.5 percent as of the time of this article’s publication on Monday.

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Musk tweeted the poll with the caption, “Unrealistic profit being a means of tax evasion has been made a lot lately, so I propose to sell 10 [percent] of my Tesla stock. Do you support it?” He said that because he doesn’t take a cash salary, for him “the only way to personally pay taxes is to sell the stock.”

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according to ReutersAs of Friday’s closing price, Musk’s 10 percent stake would be worth about $21 billion. The billionaire said he would follow the results of the election, whatever the outcome.

Despite the shocking news to some, Musk may have already agreed to sell these shares, as the billionaire faces an imminent tax bill, valued at more than $15 billion, CNBC told.

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In 2012, Musk was awarded a Tesla stock option as part of a compensation plan. These stock grants typically allow officers to pay taxes. Although Musk has taken debt on these shares, which The New York Times reportedThis means that he cannot be allowed to take preferential tax treatment.

Earlier this year, ProPublica published a report based on leaked IRS files detailing how much the world’s billionaires paid in taxes. ProPublica calculated what they called the “true tax rate,” which compared the amount paid in taxes by the 25 richest Americans per year to their Forbes Estimated assets grew over the same time period.

Having a tax evasion instrument has resulted in unrealized gains lately, so I propose to sell 10% of my Tesla stock.

do you support it?

— Lord Age (@elonmusk) November 6, 2021

@elonmusk. courtesy of

Musk’s real tax rate was 3.27 percent, much lower than the 22 percent tax rate paid by those earning $40,126 to $85,525, but higher than his billionaire peers, Warren Buffett, Jeff Bezos and Michael Businesshala.

As a means of funding their $1.75 trillion Social Security plan, Democrats want to tax the shares and other tradable assets of America’s billionaires. These measures serve as an attempt to close a loophole that allows the wealthy to defer capital gains taxes indefinitely. With the passage of such measures, the Center for American Progress reported that the United States could take in a total of $344 billion in tax revenue.

Which measures to pass the final version of the bill will remain up in the air as Democrats negotiate the final version of the bill.