Elon Musk, the Chief Executive Officer of Tesla Inc, should sell around 10% of his company stock, according to 58% of respondents who participated in a Twitter poll asking if he should unload the stock.
On Saturday, the world's richest man tweeted that if users supported the idea, he would sell 10% of his Tesla shares.
After the vote, Musk said, he was prepared to accept either result. More than 3.5 million people took part in the survey.
Musk has already stated that he will have to execute a substantial amount of stock options within the next three months, resulting in a significant tax burden. Selling some of his shares may be able to help him pay his taxes.
According to calculations, Musk's investment in Tesla was around 170.5 million shares as of June 30, and selling 10% would be worth close to $21 billion based on Friday's closing price.
Musk has said he does not want to borrow against his stock in order to pay taxes because the stock value may fall.
"I suggest selling 10% of my Tesla shares because much has been said recently about unrealized gains being a form of tax avoidance," Musk said, adding that he does not take a cash income or bonus "from anybody" and just owns stock.
Senate Democrats have proposed taxing billionaires' stocks and other tradable assets to help finance U.S. President Joe Biden's social spending plan and close a loophole that allows them to avoid paying capital gains taxes indefinitely.
"Eventually, they run out of other people's money, and then they come for you," Musk said of the concept.
Whether or not Musk pays any taxes at all shouldn't depend on the results of a Twitter poll, Senate Finance Committee Chairman Ron Wyden, who launched the tax plan, said on Saturday.
Musk owns a 23% ownership in Tesla, the world's most valuable automotive company, with a market value that recently surpassed $1 trillion, including stock options. He also owns other significant businesses, such as SpaceX.
Meanwhile, Kimbal Musk, Elon Musk's brother, sold 88,500 Tesla shares on Friday, becoming the latest board member to sell a big amount of company shares at record highs.
