The fall comes after Musk asked his 62.5 million Twitter followers to determine the future of a chunk of his Tesla holdings.
with the company yet. Before he made that statement, he taunted investors who were short shares of Tesla on Twitter, writing: "Tesla Hertz shorts."Elon's tax bill
No matter the results of the poll, Musk would have likely started selling millions of shares this quarter. The reason: a loomingMusk's options expire in August of next year. Yet in order to exercise them, he has to pay the income tax on the gain. Since the options are taxed as an employee benefit or compensation, they will be taxed at top ordinary-income levels, or 37% plus the 3.8% net investment tax. He will also have to pay the 13.
Combined, the state and federal tax rate will be 54.1%. So the total tax bill on his options, at the current price, would be $15 billion. Musk hasn't confirmed the size of the tax bill. But he tweeted: "Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock."
Of his considerable holdings, Musk has options for 22,862,050 shares at $6.24 due to expire on Aug. 13, 2022. These options were awarded to him in 2012.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Musk asks Twitter followers whether he should sell 10% of Tesla stockTesla Inc Chief Executive Elon Musk on Saturday asked his 62.5 million followers on Twitter in a poll if he should sell 10% of his Tesla stock.
Weiterlesen »
Musk polls Twitter on whether he should sell 10 percent of his Tesla sharesMusk's shareholding in Tesla comes to about 170.5 million shares as of June 30 and selling 10 percent of his stock would amount close to $21 billion.
Weiterlesen »
Elon Musk Pledges to Sell Tesla Stock if Twitter Voters AgreeShould Elon Musk sell 10% of his Tesla stock? The billionaire asked Twitter followers and committed to following their directive, amid debates about capital-gains taxes
Weiterlesen »
Elon Musk’s Twitter Followers Vote For Him To Sell 10% Of Tesla StockThe Tesla Founder asked his followers to participate in a poll on Saturday.
Weiterlesen »
Elon Musk May Have to Pay Billions in Taxes Because of a Twitter PollMusk says he is “prepared” to abide by the results of a Twitter poll in which followers voted for him to sell 10 percent of his Tesla shares.
Weiterlesen »