#elonmusk Sells 5bn of Tesla 😳 Wow

Wow, wow, wow! Elon Musk has just sold $5 billion of Tesla stock. This is huge news on so many levels. I think there's some good in this, I think there's some bad in this, but this is a breaking news announcement. Elon Musk has just sold $5 billion of of Tesla stock. Now stay with me because I think there's masses of lessons and discussion points and some moral dilemmas going on here. Now with Elon Musk, he's got 63 million followers on Twitter, so he can literally crash a market or send a crypto to the moon— not just a rocket, but a crypto to the moon with a tweet. He is probably one of the most influential people on the planet. Now, there's been some criticism of billionaires and some proposed wealth taxes. There's been some freaking outrageously stupid ones as well. One particular one I will mention, um, but what Elon Musk did, which I actually thought was quite clever— some people were really upset by this But Elon Musk did a Twitter poll vote, um, and he said, um, get a bit excited here. He said that there's been a lot of criticism towards the rich, the billionaires, and that there should be a wealth tax. And he's— he proposed that he could sell Tesla stock in order to generate a taxable event. And he did a Twitter poll, a Twitter poll. I'll come back to that Twitter poll in a moment. I'll come back to the breaking news in a moment. But get this for absolutely ridiculous: the Democratic Party in the US suggested that billionaire big corporate owners should get taxed when their stock rises even if they don't sell it. How frickin'— I mean, let me know what you think about that in the comments, but how frickin' ridiculous is it to suggest that an owner of a massive corporation should be forced to pay tax when stock goes up? Well, doesn't stock go down? Doesn't the value of stock go down as well as up? So what are they gonna do? Give Elon Musk and billions of dollars of tax rebate when stock goes down. I mean, for goodness sake. Um, anyway, back to what's actually going on here right now. So I think this is massive news. Elon Musk has just sold 5 billion of shares after his Twitter poll. So he did a Twitter poll a few days ago and he said, do you think I should sell stock of Tesla to ultimately create a taxable event to pay a massive load of tax to the government. Although he has been a bit critical, he said in a tweet that— well, he responded to, I think it was the World Food Organization, who said that just 2% of Elon Musk's wealth could solve and rid all world hunger. So he said, if you can show me and prove to me how 2% of my wealth will solve world hunger, I will do it. Create me a plan that'll work and I will do it. Um, of course they haven't yet. And let's be honest, it's not money that's going to solve world hunger. There's way more issues than money. All right, so, um, please hit the share on this video and let me give you the breaking news. And let's talk about the moral dilemmas going on here. I think it's really important. So Tesla chief executive Elon Musk has sold $5 billion worth of shares in Tesla. It comes days after he asked his 63 million Twitter followers whether he should sell a 10% stake in Tesla. He said he would go by whatever the Twitter poll said. 58% of people said yes, yes. He should sell 10% of his stock of Tesla. So he's gone and freaking done it. He's a man of his word. Wow. I mean, I can't believe this has happened, um, because there's many other moral quandaries and dilemmas going on here. Let me give you the news and then we'll discuss it. Here's the interesting thing. Look, the company shares fell by around 16% in the 2 days after the poll came out in favor of him selling shares. So a few people have said You know, a few respected commentators have said, oh, so now company fiduciary duties and decisions are based on Twitter polls. What is the world coming to? And you've got to say, that's actually, I think, quite a good point. Because let's be honest, the masses who vote on Twitter don't really know how to run a company and the fiduciary duties of a company. And of course, the stock can go up and can go down, based on news in the media or Elon Musk's tweets. I still can't believe the Democrats— I think it was the Democratic Party— suggested that people should get taxed when stock goes up. I mean, surely you only pay tax when you realize a gain, and share prices that go up and down are unrealized gains. Yet some parties are trying to tax us for unrealized gains. Holy shit. Next thing, someone will go, Rob, you just had a thought that could make money. We're gonna tax you 50% of that. We're gonna tax you on your thoughts. That idea could make millions. That's intellectual property. We're gonna tax you on those thoughts. Let us cut into your arm. Let us put a chip in so we can tax your thoughts. Holy shit. By the way, please share this video. I think it's really important. There's some big discussions and moral dilemmas to go on here. This is huge news. The world is completely changing now. A massive corporate world-valuable business owner in the form of Elon Musk has sold 5 billion shares in Tesla based on a Twitter poll. I wonder if this is the first of its type. Okay, Tesla chief exec Elon Musk has sold 5 billion of Tesla shares. It comes days after his 63 million Twitter followers voted 58% in favour of him selling his shares so that there's a taxable event so he could give the government billions in tax. Then the company shares fell by 16%. I wonder if the government are going to give him a massive tax rebate on the shares falling down. I somewhat think not. Okay. Tesla is the world's most valuable carmaker, stock market valuation of more than a trillion. Elon Musk sold— well, Elon Musk's trust. Elon Musk doesn't take a salary from Tesla. Elon Musk works for nothing. He gets paid in stock. That's interesting. Again, to all the critics of the billionaires, let's tax the rich. I tell you what, let's just tax the rich 100%, yeah? Why don't we do that? That's right, isn't it? Let's stop all production. Everyone who says tax the rich and then loves when all their Amazon packages come through. Tell you what, let's tax Jeff Bezos so much that he's not incentivised to grow, he's not incentivised to produce. Let's cap him. Oh, you can earn £5 an hour, Jeff Bezos. Let's see how you feel when your Amazon deliveries don't come every day. I mean, anyway. Right, so Elon Musk's trust sold 3.6 million shares in Tesla worth around £4 billion. $1.1 billion. Then he sold another 934,000 shares for about $1.1 billion after exercising options to acquire nearly 2.2 million shares. Okay, yeah, yeah. Mr. Musk has highlighted that he is not paid in cash by Tesla and only has stock. Part of the latest transaction saw him exercising stock options that he was awarded as part of his pay package in 2012. All right. Such transactions trigger income taxes, which are typically settled using money raised from immediately selling some of the newly acquired shares. So he's done it. Musk's gone on Twitter, said, hey, vote if I should sell some shares or not, if I should pay more tax or not. Twitter voted yes. He sold the shares. There's a massive tax event. Now the government are going to get paid, what, probably billions in tax. Let's see how the US government manage those billions. What do you think of this move, by the way? Let me know in the comments what you think about this move. I'll open up for a Q&A. Make sure you share this content. Okay. His move also comes as US Democrats have proposed a so-called billionaires tax which could— oh, there's a typo on BBC website, wow— which could see the richest taxed on unrealised gains. So there's a proposal by the US Democrats, I can't believe this, for the rich to be taxed on unrealised gains. I.e., stock price goes up, you get taxed on it. But surely you can only get taxed on a realised gain. And then of course Elon Musk sold the shares and then the shares went down 16%. So what, are the government going to give a tax rebate of billions on the price going down? I think there's some absolute bonkers suggestions coming on. I don't think we should be penalising the rich. I think we We should be encouraging production, encouraging economy, encouraging growth. It's my thoughts. Let me know what you think. And by the way, let me ask you this: would you get— let's say you wanted to invest— would you give, um, someone who was bankrupt, who traded insolvently, and maybe who was an addict, would you give them your money to invest? Let me know, yes or no. Would you give someone who's bankrupt and insolvent and maybe an addict your money to invest? Well, the government is insolvent. The government is in what I think is 2.3— the US— the UK government, I was told by Gerald Ratner, is 2.3 trillion in debt. So governments are allowed to trade insolvently. Now, a company cannot trade insolvently. A company, it's illegal to trade insolvently. If you know, if you willingly know you are trading insolvently, that's illegal. Yet governments willingly know and trade insolvently and have for decades. So is giving the governments billions more in tax the solution? Let me know what you think, by the way. Okay. Elon Musk doesn't take a salary. He's paid in big chunks of stock. At some point in time, you have to take some of that concentration down. It's not novel. It just gets more attention because it's such a high market cap type, attention-grabbing kind of company. The shares he sold equate to about 3% of Musk's total holdings in the carmaker, though it's not been confirmed if the sale was related to his weekend Twitter poll. Well, of course it was, because he did a Twitter poll. Do you think I should sell shares in Tesla? 58% of people voted yes. Now he's just gone and done it. Of course it's related to the Twitter poll. Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. I will abide by the results of the poll whichever way it goes. The poll attracted more than 3.5 million votes. Wow, wow, wow, wow. All right, so quick summary then. Um, Elon Musk has just sold $5 billion of Tesla shares in order to realize gains, to generate income taxes, to pay a massive lump of tax because of a Twitter poll that he created a few days before and in reaction to proposed tax increases or taxes on unrealized gains. And billionaire and wealth taxes. I would— someone said here, I did 300,000 of those votes via a bot. So let me know what you think about this in the comments. Um, should we be taxing billionaires and the super rich? What do you think of Elon Musk's move to sell 3% of his holding of Tesla, which incidentally made the share prices go down 16% So that's very interesting. Um, I don't know, tell me, tell me. Now I'm going to keep my mouth shut for a change, actually. There's the news, um, and let's discuss in the comments. And by the way, if you're watching me on TikTok, make sure you're following me here on TikTok. Uh, so thanks for tuning in. I will see you soon. And if you're watching live on Facebook, let me know what you think about the breaking news. I'll go into the comments. Please do share this content as well. Uh, yeah, I'm going to keep my mouth shut and I'm going to discuss with you in the comments what we think about all of this.