The CEO of Tesla who is no stranger to throwing curveballs at investors, asked his followers to vote on whether he should sell a 10% chunk of his stake.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?”
iframe.twitter-tweet { width: 100% !important; } Musk went on to say that he would “abide by the results of this poll, whichever way it goes,” and that he doesn’t “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.” Tesla shot to a new high last week of $1,229.91 a share, and surged 43% in October. The company’s market capitalization climbing past $1 trillion after Hertz Global HTZ, announced plans on Oct. 25 to order 100,000 Tesla vehicles. Days later Musk questioned the rally seen for the stock as he said no deal with Hertz had been signed yet.Shares of Tesla finished up 9% last week, just off that record high at $1,222.09, and are up 73% so far this year.
For now, Musk may have created some built-in tension for the stock market’s new week. All three major U.S. stock benchmarks SPX, +0.37% DJIA, +0.56% COMP, +0.20% rose to fresh peaks Friday, driven by strong jobs data and the view the Federal Reserve is in no rush to raise interest rates.
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