Elon Musk’s compensation is explained, along with the billionaire’s Tesla stock poll.


In the midst of the billionaire’s Tesla stock poll, Elon Musk explains how he gets paid.

ELON MUSK, the world’s richest man, recently announced that he will follow the advice of his Twitter followers and launch a poll on whether he should sell 10% of his Tesla stock.

Elon Musk’s salary is determined in a number of ways.

Elon Musk, the CEO of Tesla and a man worth nearly $320 billion (£239.5 billion), made an unusual proposal on Twitter.

Mr Musk said to his 52.8 million Twitter followers that “much has been made recently of unrealized gains being a means of tax avoidance,” and he proposed selling off 10% of his Tesla stock.

He promised to follow the results of his Twitter poll, igniting a debate about the taxation of billionaires in the United States.

Mr Musk’s Twitter poll comes as some American progressives advocate for a “billionaires tax.”

That tax is primarily aimed at the “unrealized gains” mentioned by Mr Musk in his poll.

The CEO recently stated in a tweet that he does not “take a cash salary or bonus.”

Mr Musk owns 17 percent of Tesla and some billionaires’ fortunes are primarily made up of stock.

These stocks account for roughly $200 billion of his fortune, but it is not fully taxed.

Mr Musk, like others in his position of wealth, pays taxes only when he sells his assets.

When they sell a piece of property or an investment, the money they make is referred to as “capital gains.”

They may end up sitting on a huge fortune if they don’t sell.

The majority of employed people are required to deduct taxes from their regular pay or face a penalty for tax evasion.

According to some US legislators’ proposals, the state would levy an annual tax on unsold assets, which would disproportionately affect the country’s wealthiest citizens.

So far, it appears that the vast majority of Mr Musk’s Twitter followers agree with him.

Overall, 57.9% of the 3.5 million people who voted said he should sell off the company.

He would have to pay approximately $21 billion (£15.5 billion) if he kept his word.

He has yet to respond to the results, but on Sunday he tweeted, “I was prepared to accept either outcome.”

Mr Musk’s poll drew a response from US Senator Ron Wyden, a Democrat who chairs the Senate Finance Committee.

Mr. Wyden stated that the tax decision should not be made “based on the results of a Twitter poll.”

“It’s time for a billionaire income tax,” he continued.

Tesla shares fell by about 7% after the poll results, but then recovered.

“News from the Brinkwire.”


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