Elon Musk clashes with Bernie Sanders, offers to sell more Tesla shares

“Do you want me to sell more stock, Bernie? Just tell me,” added the entrepreneur, who as of November 12 paid $6.9 billion in shares of the electric car company.

Sanders’ tweet comes amid Washington’s efforts to raise taxes on the ultra-rich.

Senate Democrats have introduced a proposal to tax billionaire stocks and other marketable assets to help fund President Joe Biden’s social spending agenda and plug a loophole that allowed the wealthy to defer taxes on capital gains indefinitely.

On November 6, Musk tweeted that he would sell 10% of his stock if users of the social media platform supported the measure.

“There has been a lot of talk lately that unrealized gains are a way to evade taxes, so I am proposing to sell 10% of my Tesla stock,” the businessman wrote.

Nearly 58% of the 3.5 million votes in favor of the sale were cast. But the survey sent Tesla shares down on Monday and Tuesday of that week as $50 billion of Musk’s net worth was wiped out.

Today, his fortune is estimated at $300 billion, according to the Bloomberg Billionaires Index.

With information from Reuters.

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