Michael Saylor Wants Elon Musk to Buy Bitcoin Worth $25 Billion
- He also owns SpaceX, a $100 billion aerospace corporation.
- It’s roughly quadrupled since January 2021, thanks to the Tesla rise.
Elon Musk enhanced his Twitter game by asking his 62 million followers whether he should sell 10% of his Tesla shares, approximately equal to $25 billion. An estimated 193 million shares in the biggest e-car maker. Musk’s poll attracted 2.8 million votes as of this writing, with 56.9% in favour. Voting will continue for 7 hours.
In a subsequent tweet, Musk says he will follow the poll’s findings. According to the Bloomberg Billionaire Index, Musk’s net worth has risen to $338 billion. It’s roughly quadrupled since January 2021, thanks to the Tesla rise.
True Tax Rate
He also owns SpaceX, a $100 billion aerospace corporation. Musk recently slammed a new Democratic plan to tax unrealized capital gains annually. The idea may bring $250 billion to the federal coffers over ten years, according to Democrats. But Republican negotiators reject taxing unearned income.
The richest Americans dodge paying taxes by borrowing against their vast stock holdings, according to a June study by non-profit media ProPublica. From 2014 to 2018, the top 25 wealthiest Americans paid a “true tax rate” of just 3.4 percent on their collective wealth. Musk will have to pay around 20% in capital gains tax if he goes forward with the anticipated $25 billion sales.
Now that Elon Musk may have a lot of cash on hand, the bitcoin community began pitching him. MicroStrategy CEO Michael Saylor immediately urged Musk to spend the money on Bitcoin, claiming it would safeguard Tesla from inflation. Tesla bought Bitcoin in December after Saylor casually tweeted @ Musk.
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