Being the owner of Tesla, Elon is the richest man on the planet right now with an estimated net worth of over $320Billion which causes a lot of hate due to the fact that himself and his corporation pay very little/if not any tax on this.

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?

— Lorde Edge (@elonmusk) November 6, 2021

Also writing on Twitter, Elon does not take a cash salary or bonus and therefore he does not pay tax as he technically doesn’t earn anything. Elon owns approximately $250Billion in Tesla stock which would mean a sell off of $25Billion and taxable gains of up to 50% which is a staggering $12.5Billion going to the US government.

Image courtesy of Finance.Yahoo.com

Elon Musk is a man of his word and after the votes were counted, ‘Yes’ had 57.9% of them and his fate was sealed. So with Elon about to take a big hit this also has had a profound effect on the stock price of Tesla overall with in pre market it plummeting already 5% due to investors worrying about the uncertainty of the company, the owner and what the future holds.

This is not the first time Elons tweets have caused carnage in the stock market with DogeCoin booming then crashing, CAR stock rocketing and Hertzz Global gaining 40% in a single day due to just 140 characters or less written by the man himself. It’s safe to say if Elon wants a stock to go up or down he has the power to do so at his fingertips.

TIP: Follow Elon on Twitter and bet/bet against companies and industries that he mentions.