Elon Musk sells chunk of his Tesla shares to cover tax obligations
In the Twitter poll, almost 58 percent of 3.5 million votes were cast in favor of Musk proceeding with the sale.
But they did not suggest the unconventional virtual referendum he issued on Saturday was behind the decision. On Saturday Musk tweeted: "Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 percent of my Tesla stock. Do you support this?" Before the sales, he still owned more than 170 million Tesla shares, about a 17 percent stake in the company, according to the US Securities and Exchange Commission.
Musk's tweets on Saturday followed a proposal by US Congressional Democrats to tax the super wealthy more heavily by targeting stocks, which are usually only taxed when sold.
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